The Cabinet of Ministers of Ukraine by resolution No. 430-r dated May 31, 2022 appointed Petro Kotin President of Energoatom.
The text of the document is posted on the government portal.
As reported, Kotin has so far served as interim president of the company, effective April 2, 2020. Prior to that, he worked as the general director of Zaporizhia Nuclear Power Plant, a separate subdivision of Energoatom.
Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates 15 power units equipped with water-cooled power reactors with a total installed electrical capacity of 13,835 GW.
As reported, the Cabinet of Ministers at its meeting on May 31 canceled the competitive selection of managers, chairmen of executive bodies and members of supervisory boards of economic entities in the public sector of the economy for the period of martial law.
The state-owned enterprise NNEGC Energoatom has raised a UAH 1.5 billion loan from Ukreximbank (Kyiv) to purchase fresh nuclear fuel from Westinghouse in 2022.
“The borrowed funds will make it possible to increase the purchase of American fuel and ensure the efficient operation of power units of Ukrainian nuclear power plants after the rejection of Russian nuclear fuel,” the NAEC said in a statement.
As reported, Energoatom, at the beginning of a full-scale Russian military aggression, announced a complete refusal to purchase Russian-made nuclear fuel.
Energoatom is the operator of all four operating nuclear power plants in Ukraine. Operates Zaporozhye, South-Ukrainian, Rivne and Khmelnytsky stations with 15 power units equipped with water-cooled power reactors, with a total installed electric capacity of 13.8 GW.
Negotiations on a possible increase in purchases of uranium from the British Urenco Group were recently held with its responsible leaders by the head of the SE NNEGC Energoatom Petr Kotin, the company said on its Telegram channel on Monday.
“He (Kotin) said that any cooperation with the aggressor country, including the purchase of Russian uranium concentrate, is unacceptable for Ukraine, so Energoatom is ready to consider increasing purchases from Urenco,” the NAEK said.
Urenco Group specializes, in particular, in uranium enrichment (according to gas centrifuge technology), which is one of the technological cycles in the production of nuclear fuel for nuclear power plants. The company owns uranium enrichment facilities in Germany, the Netherlands, Great Britain and the USA and supplies fuel for nuclear power plants in 15 countries around the world with a global share of about 29% in the global market for uranium enrichment services.
National Nuclear Generating Company Energoatom (NNGC) urged participants in the electricity market to fulfill their obligations under contracts for its purchase and sale.
“It is important to continue to fulfill obligations under electricity purchase and sale agreements and take a prudent approach to intentions to declare force majeure circumstances when they are fulfilled. We must be united like never before and support each other in this difficult time,” the NNGC said in a statement.
Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates 15 power units equipped with water-cooled power reactors with a total installed electrical capacity of 13,835 GW.
The accession of Skhidny Mining and Processing Plant to National Nuclear Energy Generating Company Energoatom will have a positive effect on the former’s performance, but it must be preceded by a number of measures, including the corporatization of Energoatom, Energy Minister Herman Haluschenko has said.
“We are working out this way of joining. To do this, we need to take certain actions, in particular, to properly corporatize Energoatom. We are moving in this direction,” he said during question hour in the Verkhovna Rada on Friday.
At the same time, the minister said Skhidny Mining and Processing Plant, represented by Energoatom, has a single counterparty, and the support from the General Company “will solve many issues.”
As reported, at the end of October 2021, Head of Energoatom Petro Kotin noted the impossibility of merging the company with Skhidny Mining and Processing Plant due to its loss, but at the same time expressed hope for financial recovery of the company with the appointment of new head on October 6 Serhiy Shovheli.
Haluschenko earlier said Skhidny Mining and Processing Plant could not join Energoatom. He cited the EBRD and Euratom loans as the reason. However, he said that an alternative to accession could be a transfer to the management, which is working on the ministry.
At the same time, the minister considers it quite logical that Energoatom wants to gain control over Skhidny Mining and Processing Plant when it spends money on it.
The concept of stabilization and further development of Skhidny Mining and Processing Plant by transferring it to Energoatom provided for financial contributions to it by the generating company by reducing the contributions of part of the net profit to the state budget, the Ministry of Energy said at the time.
Energoatom, based on the results of its activities in 2022, must allocate half of its net profit to the budget, provided that the second half is directed to the implementation of an investment program.
The corresponding decision is enshrined in resolution No. 134 of February 16, 2022 on amending the procedure for deductions of a part of net profit (income) to the state budget by state unitary enterprises and their associations, published on Friday on the Uriadovy Portal.
“The share of net profit deducted by Energoatom based on the results of financial and economic activities in 2022 is determined in the amount of 50%, provided that 50% of net profit (income) from its activities is directed to the implementation of the investment program,” the resolution says.
According to Energy Reform, the government has yet to make a decision on the amount of deductions based on the results of 2021.
