The discussion regarding the transparency of corporate governance in Ukrainian energy companies has once again opened due to the large fees of the supervisory boards of Naftogaz and Ukrenergo. The supervisory boards have become a sort of 'bottomless box', where substantial financial resources leaked without proper oversight, and the main task was merely the formal approval of documents.
Naftogaz's losses in 2020 and the ineffectiveness of the '20/20' program were evidence that the rewards in the supervisory boards did not correspond to real results and only supported a scheme of large payments without justification by financial indicators. The silence of anti-corruption activists regarding these issues indicates a long-standing irresponsibility in the energy sector, which is now leading to catastrophic consequences for state companies.