Photo from UNIAN
The company's corporatization will allow the authorities to effectively introduce new legislation on the electricity market in Ukraine.
Ukraine's Finance Ministry has set up a commission to reorganize the state-owned operator of Ukraine's integrated power grids, Ukrenergo, into a private joint stock company.
The commission headed by Deputy Finance Minister Vasyl Shkurakov includes twelve representatives from the Finance Ministry, Ukrenergo, the Ministry of Economic Development and Trade, and the State Property Fund, according to the finance ministry's press service.
Read alsoUkrenergo, ENTSO-E sign cooperation agreement
The commission, at its first meeting, developed the company transformation plan, which provides for an inventory of Ukrenergo's assets and liabilities, as well as approval of the charter and supervisory board of the reorganized joint-stock company, the report said.
"Ukrenergo's corporatization will allow effective introduction of legislation on the electricity market, as well as separate control over the generation of electricity and its transmission. This is one of the conditions for obtaining loans under the Memorandum of Understanding with the European Union," the press service added.
As UNIAN reported earlier, the state-owned operator of Ukraine's power grids, Ukrenergo, came under the Ukrainian Finance Ministry's control on February 6.
UNIAN memo. The national energy company, Ukrenergo, operates trunk and inter-state transmission lines and is in charge of centralized control over Ukraine's integrated power grids. It is wholly owned by the state and subordinate to the Energy and Coal Industry Ministry.