Zelensky announced a large-scale clean-up in the energy sector: who will leave the supervisory boards

Update on the supervisory boards of state energy companies

The President of Ukraine Volodymyr Zelensky announced a large-scale renewal of the supervisory boards of state energy companies, which will take place on December 3, 2023. As part of this reform, the powers of a significant part of the composition of the supervisory boards of major energy companies will be terminated, including:

• Tsentrenergo
• Gas Transmission System Operator
• Market Operator
• Ukrainian Distribution Networks
• Energy Company of Ukraine

The personnel overhaul in the energy sector has already been discussed with the Prime Minister of Ukraine Yulia Svyrydenko. According to the president, the pace of transformation is decent and should ensure complete transparency in management. He emphasized that it is through the supervisory boards that management and control over internal processes in companies takes place, and this must be ensured one hundred percent.

Purpose of the reform

New members of the supervisory boards are to be appointed in December. This initiative is aimed at increasing the efficiency of state energy companies and ensuring more transparent management in this important area for the country.

The renewal of the supervisory boards of state energy companies is an important step in the context of reforming Ukraine's energy sector. This can positively impact the management and control of energy resources, which, in turn, will contribute to increasing their efficiency and transparency. The planned changes may become an important element in ensuring Ukraine's energy independence and improving the investment climate in this sector.