Business news from Ukraine


3 January , 2018  

Ukraine’s Energy and Coal Industry Ministry has announced a tender to select independent members of Ukrenergo’s supervisory board.
According to an announcement on the ministry’s website, applications and documents for the tender can be submitted before March 2, 2018.
The ministry seeks to create the supervisory board consisting of seven members with the following qualification: business strategy and development, regulatory policy on the competitive power market, operations effectiveness, finances and audit, power lines management, risk management, compliance and corporate governance.
As reported, Energy and Coal Industry Ministry resumed the selection of four independent members of the supervisory board of national energy company Ukrenergo in its resolution No. 752 dated December 18, 2017. The tender commission was to draw up and approve the requirements to the candidates to these posts.
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.