G7 Advisory Council starts work on Energoatom's corporatization

MOSCOW. March 14 (Interfax) - Ukrainian Energy Minister German Galushchenko has hosted a first meeting of a working group for corporatization of the national nuclear power plant operator Energoatom as part of a session of the G7 International Advisory Council, Ukrainian media reported with reference to the Energy Ministry website.

"Nuclear energy has special status and a special legal regime, and therefore, it's important for us to hear opinions and recommendations from our key international partners on the company's corporatization," Galushchenko said.

The group set up at the Energy Ministry's initiative and with support from European Commissioner for Energy Kadri Simson, United States Energy Secretary Jennifer Granholm, and the chiefs of energy agencies of the leading countries includes best specialists from G7 countries and representatives of international organizations.

As reported earlier, the Ukrainian Verkhovna Rada on February 6, 2023 passed at the second reading a bill on Energoatom's corporatization, which stipulates that the company be transformed from a state-owned enterprise into a joint stock company wholly owned by the state.

Energoatom's corporatization is stipulated by a loan agreement between the company and the European Bank for Reconstruction and Development (EBRD) and a guarantee agreement on a comprehensive program for enhancing the safety of nuclear power plant units ratified by the Verkhovna Rada.

Energoatom is the operator of all the functioning Ukrainian nuclear power plants.