Ukraine's Energoatom could be corporatized in 6-12 months
MOSCOW. June 16 (Interfax) - Ukraine's Energoatom expects to be fully corporatized in six months according to optimistic estimates, and in a year according to pessimistic estimates, company president Pyotr Kotin said.
"The corporatization of Energoatom is moving fairly quickly. According to pessimistic estimates, it will take a year and we will be fully corporatized. If optimistic, it will be half a year. There are very many processes now underway, including the main one - an inventory of all assets, as well as gathering requests from creditors. This is not a straightforward procedure," Ukrainian media quoted Kotin as telling reporters during a visit to a nuclear power plant.
The government at the beginning of May reorganized the state-owned enterprise as JSC Energoatom National Atomic Energy Generating Company, where 100% of shares belong to the state and cannot be privatized or disposed of in any other way.
This will ultimately increase the efficiency of management, will help raise additional funds for the implementation of new projects and strengthen energy independence, Prime Minister Denis Shmygal said.
The government also set up a commission in charge of Energoatom's reorganization, approved its composition, gave the company's creditors two months to file their claims, and formed an inventory commission.
Ukraine's Verkhovna Rada on February 6, 2023 passed an Energoatom corporatization bill in the second reading.
Energoatom's corporatization is an element of the company's loan agreement with the European Bank for Reconstruction and Development and is envisaged by the guarantee agreement, titled "The Comprehensive Integrated Program for Enhancing the Safety of NPP Units", which has been ratified by the Ukrainian parliament.
Energoatom is the operator of all functioning nuclear power plants in Ukraine. Energoatom operates the Rovno, Khmelnitsky and Southern Ukrainian nuclear power plants with 15 VVER reactors and overall installed capacity of 13.8 GW.