bykvu.com
Corporatization of the National Nucelar Energy Generating Company Energoatom, which involves the creation of an independent supervisory board and the transition from a state-owned enterprise to a joint-stock company, requires the development and adoption of a special law that will regulate the conditions for full-fledged accumulation of the new company's assets and formation its charter capital.
This was stated by Taras Seryy, manager of Energoatom – Stable Corporate Development project, during the presentation of research on the specifics of Energoatom corporatization, conducted by a consortium of Deloitte&Touche and Imepower consulting companies.
"These problems [related to filling of a new legal entity with assets] can be resolved by one special bill on Energoatom corporatization, which will be the easiest way," Seryy said, adding that the corporatization should be done taking into account the specifics of nuclear energy industry and related legislation.
"At the legislative level, a special legal regime should be established for the use of property that is not allowed to be privatized but must be transferred to a new joint-stock company," the consultant noted.
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"Earlier, there was a thesis that we can corporatize Energoatom on common grounds, not taking into account all the specifics. Such a position is unacceptable, while the adoption of special legislation is necessary," he noted.
"Corporatization of Energoatom will provide the opportunity for new and broader forms of cooperation and investment attraction... This issue has already matured. These are also international obligations of Ukraine," Nedashkovsky stressed, adding that Energoatom remained the world's only nuclear power plant operator with the status of a state-owned enterprise with unitary ownership.
He also noted that Ukraine should use only the world's best international practices of nuclear companies' corporatization.
"We know many examples of negative corporatization in Ukraine, but the fact that our process [of corporatization] is under full control of the EBRD [the European Bank for Reconstruction and Development] inspires confidence," Nedashkovsky said.
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In late April 2017, Deloitte, which the EBRD chose as a consultant for Energoatom, presented the initial report on the implementation of the company's corporatization project. According to the document, the corporatization process will be conducted in three stages: the first one is the study and evaluation of the existing legislative framework, the second one is the development of a roadmap, while the third one is the definition of the role of the company's board of directors, supervisory board, as well as the development of a financial control system.
UNIAN memo. Energoatom is Ukraine's largest electricity producer, accounting for about 50% of the country's overall power output. Energoatom is responsible for the safe operation of the country's nuclear power plants.
Ukraine ranks seventh globally in terms of the installed capacity of its nuclear power generating units. Energoatom operates four nuclear power plants across Ukraine with a total of 15 power generating units, all with VVER-type reactors. Zaporizhia nuclear power plant, operating six power units with a total capacity of 6 GW, is Europe's largest.