Minister of Economy, Environment and Agriculture of Ukraine Oleksii Sobolev met with the Chair of the Supervisory Board of NPC Ukrenergo, Jeppe Kofod, and independent members Luigi De Francisci, Patrick Graichen and Jan Henrik Montel.

During the meeting, the parties discussed the situation in the energy sector and the decisions taken by the Cabinet of Ministers to stabilise the operation of critical enterprises.

Oleksii Sobolev noted that work is currently underway to form and renew the composition of supervisory boards and management where necessary, as well as to conduct rapid audits in order to have a clear understanding of the situation at state-owned enterprises.

Representatives of the Supervisory Board of Ukrenergo outlined a number of issues related to the company’s operations. In particular, they discussed updating Ukrenergo’s Corporate Governance Code and bringing it into line with the company’s charter and international standards.

The parties agreed on further steps. By the end of the year, the state will appoint its representative to the vacant seat on Ukrenergo’s Supervisory Board. In turn, the Supervisory Board will provide a list of issues that require decisions at the state level. These matters will be promptly addressed jointly with the relevant public authorities.

“It is critically important now to ensure the stable operation of Ukrenergo and to continue implementing investment projects that are essential for the energy system. The Government, for its part, will provide the necessary management decisions,” underlined Oleksii Sobolev.