The Cabinet of Ministers submitted a draft law to the Parliament on the Energoatom’s corporatization. A few details from the document

25.08.2022

 The President of the State Enterprise NNEGC “Energoatom” Petr Kotin said that the Ukrainian government submitted the draft law to the Parliament “On the specifics of establishment of the joint-stock company “National Nuclear Energy Generating Company “Energoatom”.

This was shared by “Energoatom” in its post on Facebook.
During the meeting with the ambassadors of the G7 countries, which took place yesterday at the German Embassy in Ukraine, Petr Kotin also informed about the situation at the Zaporizhzhia nuclear power plant, outlined Energoatom's development plans and progress of the projects being jointly implemented with the American company “Westinghouse”.
“We have put an end to any dependence on Russia, first of all it relates to the refusal from their nuclear fuel, technologies, services and components. At the same time, we are strengthening cooperation with our long-term partner Westinghouse: we will purchase nuclear fuel for all Ukrainian nuclear power plants and build 9 new power units using AP1000 technology,” Kotin said.
The procedure for establishing the JSC “NNEGC Energoatom”, described in the draft law, provides for creation of the commission for transformation. However, the order for creating the commission, its qualitative and quantitative composition is not disclosed. It is also stated in the document that the establishment of the joint stock company does not require the environmental audit and financial statements audit. In addition, the draft law sets a moratorium on Energoatom's bankruptcy cases for three days from the date of signing the law.
The right to coordinate nuclear power plants and other nuclear installations, nuclear materials, facilities for handling radioactive waste is transferred to the statutory capital. The founder himself decides which property accounted for on the balance sheet of NNEGC “Energoatom” should be included (the same applies to property that is not on the balance sheet). An exception is the property of nuclear power plants and facilities intended for radioactive waste management – this is transferred in full. The social infrastructure is not included in the statutory capital of the JSC NNEGC Energoatom. Everything else, except for the NPP property and RAW management facilities, should be determined by the above-mentioned commission, whose composition is not specified in the draft law. But first, Energoatom must conduct an inventory of property (except for the facilities in the zone of temporary occupation).
The supreme body of the JSC is the General Assembly, whose function, according to the law, will be performed by the Cabinet of Ministers. The government will also appoint the chairman of the board and the board itself, which will be an executive body of the JSC that manages the day-to-day activities. To control the activities of the board, a Supervisory Board will be created, the number and composition of which will be approved by the Cabinet of Ministers. By the way, the procedure for the competitive election of independent members of supervisory boards is 3-4 months.
The law also amends the third part of Article 9 of the Law of Ukraine “On the Use of Nuclear Energy and Radiation Safety”. The changes concern the ownership of nuclear materials. Nuclear materials, appeared during the company’s activities and used in the process of generating electricity and heat, are withdrawn from the state property and become the property of the JSC “NNEGC Energoatom”.

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