14:53 20.12.2017

Ukrenergo resumes formation of supervisory board

2 min read
Ukrenergo resumes formation of supervisory board

Ukraine's Energy and Coal Industry Ministry has resumed the selection of four independent members of the supervisory board of national energy company Ukrenergo.

According to ministry's resolution No. 752 dated December 18, 2017, a copy of which has been forwarded to Interfax-Ukraine, the tender commission is to draw up and approve the requierments to the candidates to these posts.

As reported, Ministry of Energy and Coal Industry began preparations for the competitive selection of four independent members of the supervisory board of Ukrenergo under resolution No. 675 dated October 25, 2017. Later it was annulled, as the issue of retaining powers of supervisory board members when the state-owned enterprise is reorganized into a private joint-stock company was unsettled.

The regulation on the principles of formation of the Ukrenergo supervisory board provides that, in general, the council should consist of seven persons. Applicants for four independent candidates should not hold positions in state or local government bodies, nor should they have any material interests with the enterprise and its management. At the same time, it is planned to form the supervisory board from persons with different competence to ensure the widest possible variety of experience and professional skills. If there are two candidates with the same competence and skills, the candidate with experience in companies - system operators of electric power transmission from ENTSO-E will be given preference.

Ukrenergo operates trunk and interstate power grids, as well as performs the centralized dispatching of the united energy system in the country. The company is a state-owned enterprise, it is subordinate to the Ministry of Energy and Coal Industry.

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