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  • EBRD stresses on the importance of corporatisation and a corporate governance reform at Ukrenergo

    CEO of Ukrenergo Vsevolod Kovalchuk met with EBRD Vice President Alain Pilloux, newly appointed EBRD Managing Director for Eastern Europe and the Caucasus Matteo Patrone and top managers of the EBRD Ukrainian division to discuss the progress on the electricity sector reforms in Ukraine and, in particular, the progress on certification and corporatisation of Ukrenergo.

    “Ukrenergo has successfully used the last several years and become one of the key partners in Ukraine for international financial institutions and the EBRD in particular,” said Alain Pilloux. “We consider this company the main driver of reforms in the electricity market in Ukraine. Corporatisation and unbundling of Ukrenergo should be performed in accordance with the Law of Ukraine “On Electricity Market”, the Third Energy Package and the existing requirements under the EBRD financing agreements. All this significantly influences the further progress of the new electricity market model in Ukraine as a whole.”

    In turn, Vsevolod Kovalchuk informed the partners about the situation with respect to the company’s corporatisation. He expressed hope that despite the turbulence of the situation, the approved composition of the Supervisory Board of Ukrenergo would start its operation shortly. “This will create preconditions for further sustainable development of the company for the benefit of the state and consumers,” emphasized Vsevolod Kovalchuk.

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