Business news from Ukraine

Business news from Ukraine

Energoatom retains nuclear safety powers after reorganization

On July 25, at the office of the State Nuclear Regulatory Inspectorate of Ukraine (SNRIU), DIARU), the official transfer of permits to JSC NAEK Energoatom for the performance of organizational and administrative functions related to ensuring the nuclear and radiation safety of Ukrainian nuclear power plants, as well as the Centralized Spent Fuel Storage Facility (CSFSF), took place.

“This stage is part of the company’s reorganization – changing its form of governance from a state-owned enterprise to a joint-stock company,” the company said on Friday.

The licenses were handed over to Energoatom’s head, Petro Kotin, by the head of the State Nuclear Regulatory Inspectorate, Chief State Inspector for Nuclear and Radiation Safety, Oleg Korykov.

He noted that the SNRIU team had conducted inspections of all nuclear facilities and nuclear power plant sites and had given a positive assessment of Energoatom’s ability to comply with safety requirements, standards, and regulations, as well as the terms of the licenses.

“Obtaining licenses to operate under the new status confirms that Energoatom retains its full powers and ensures the continuous operation of nuclear power units,” emphasized the head of Energoatom.

The changes to the licenses were made in line with the law “On the Joint Stock Company National Nuclear Energy Generating Company Energoatom” and the Cabinet of Ministers’ resolution No. 1420 of December 29, 2023. “On the establishment of the joint-stock company ”National Nuclear Energy Generating Company “Energoatom.”

Currently, Energoatom operates nine power units at the South Ukraine, Rivne, and Khmelnytskyi NPPs with a total capacity of 7,880 MW. All of them are located in territory controlled by Ukraine.

The Zaporizhzhia Nuclear Power Plant, with six VVER-1000 power units with a total capacity of 6,000 MW, has not been producing electricity since September 11, 2022, following its occupation on March 3-4, 2022.

 

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PJSC Inter-Plus will be reorganized

PJSC Inter-Plus (formerly PJSC IC Inter-Plus Kiev) will be reorganized into LLC Interplus Group (Kiev), the company reported in the information system of the National Commission on Securities and Stock Market (NCSSM).

Such decision was made by shareholders at the meeting on March 3, 2025.

In addition, the general meeting of shareholders approved the procedure and conditions for the implementation of the transformation, elected the personal composition of the termination Commission, established the procedure and term for the application of creditors of their claims.

As reported, the National Bank of Ukraine (NBU) revoked the licenses for insurance activities of PJSC IC Inter-Plus and excluded the company from the State Register of Financial Institutions.

Earlier, the NBU on April 1, 2024 provided IC Inter-Plus with permissions to exit the market by executing insurance portfolios and agreed on a plan of exit from the market.

The insurance portfolio of IC Inter-Plus was formed at the expense of payments on third party liability insurance, air, water transport liability insurance (including carrier’s liability) – 76,8%, hull insurance – 6,1%, medical expenses insurance – 5,8%.

The volume of insurance premiums amounted to UAH 140,075 mln, formed insurance reserves – UAH 13,006 mln.

 

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UKRENERGO USES SCIENTIFIC LEGAL ANALYSIS CLAIMING ABSENCE OF POWERS OF REORGANIZATION COMMISSION TO MANAGE COMPANY

The Koretsky Institute of State and Law under a request of National Energy Company Ukrenergo has confirmed the absence of powers of the commission for reorganization of Ukrenergo to manage the company’s affairs. According to the findings of the scientific and legal analysis, the text of which Interfax-Ukraine has, the commission created by order of the Energy and Coal Industry Ministry No. 728 dated December 5, 2017, is not vested with the authority to manage the affairs of Ukrenergo and its current activities.
At the same time, according to the findings of the institute, the Energy and Coal Industry Ministry has not authorized the commission to manage the affairs and current activities of Ukrenergo, but only to provide organizational support for the Ukrenergo transformation process.
As reported, the ministry on October 18 said that the commission for reorganization of Ukrenergo, which from October 9 is headed by Blyzniuk, has decided that powers to manage the company are transferred to the commission head, which is aimed at the successful completion of the reorganization process.
Ukrenergo said about the deliberate obstruction of corporatization and the process of the introduction of the electricity market by the commission for reorganization of the company, which members are approved by the ministry.
The business court of Kyiv on October 23 suspended the decision of the commission for reorganization of Ukrenergo about the delegation of powers to manage the company to the head of the commission in the person of Deputy Energy and Coal Industry Minister of Ukraine Mykhailo Blyzniuk.

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