Certification of Ukrainian electricity transmission system operator completed

After several years of preparatory works, which included changes to the Ukrainian electricity legislation, Ukrenergo has been certified on Friday by the regulator NEURC as compliant with the Third Energy Package’s unbundling rules. The decision also constitutes a milestone for the process of integration with the ENTSO-E network.

In its final decision, NEURC took into account the Secretariat’s requests and recommendations from its Opinion 4/21. The Secretariat had raised concerns about Ukrenergo’s financial viability, and about interventions by state authorities in the corporate bodies of the transmission system operator (TSO). In the meantime, a supervisory board with a majority of independent members has been appointed. According to the final decision, the Ministry of Energy as shareholder of Ukrenergo, will also have to continue its internal restructuring meant to ring-fence the TSO from political decisions, and to propose solutions addressing the risks to the company’s liquidity.