Government launches reboot of energy giants: Svyrydenko names priority tasks
17 November 2025 15:32
The Cabinet of Ministers has announced a new phase of deep reform of state-owned energy companies, a move that the government is presenting as a “complete reset” of the sector. Against the backdrop of anti-corruption investigations and pressure on strategic enterprises, the authorities are seeking to renew both the supervisory boards and executive bodies of key companies in the fuel and energy sector. This was announced by Prime Minister Yulia Svyrydenko, "Komersant Ukrainian" reports.
Svyrydenko noted that the priority task this week will be to approve the new composition of the supervisory board of NNEGC Energoatom, the company that is at the center of a large-scale corruption case investigated by the NABU.
What is known about the reforms
The government’s plan envisages renewal of the supervisory boards of all major state-owned energy players:
- “Naftogaz and its subsidiaries,
- “Ukrhydroenergo,
- GTS Operator,
- “Ukrenergo, and a number of other state-owned energy companies,
- “Centrenergo, and a number of regional energy companies.
It is also planned to transform Guaranteed Buyer into a joint-stock company and revise the companies’ charters in accordance with OECD corporate governance principles.
The government claims that the management changes should provide a “clean start” for the industry, which is both critical to the country’s energy security and vulnerable to corruption.
Relationship to anti-corruption investigations
The reboot is taking place against the backdrop of the NABU’s Midas special operation. The investigation believes that the criminal organization has been receiving 10-15% of kickbacks from Energoatom’s contracts for years and has influenced the company’s management decisions.
In this context, the formation of a new supervisory board looks not just like a procedural change, but an attempt to limit external influence on the state’s strategic resources.
The government has assigned the Ministry of Economy to coordinate the implementation of the plan. They promise to report regularly on the progress of reforms.
What is known about corruption at Energoatom?
on November 10, the NABU announced the exposure of a corruption scheme at Energoatom, which included current and former energy officials. The criminals received undue benefits from the company’s contractors in the amount of 10-15% of the value of contracts, using the so-called “barrier” scheme to control payments and the status of suppliers.
The scheme involved a former deputy head of the State Property Fund, who became an advisor to the Minister of Energy, and a former law enforcement officer, who was the executive director of physical protection at Energoatom. Law enforcement officers found that the actual management of a strategic enterprise with an annual revenue of over UAH 200 billion was carried out by unauthorized persons without formal authority.
In addition, the NABU uncovered the “Legalization” scheme, in which a Kyiv office associated with the family of former Russian MP Andrii Derkach laundered money through a network of non-resident companies. About $100 million passed through this scheme, keeping “black books” and issuing cash outside of Ukraine.
According to MP Yaroslav Zhelezniak, the members of the criminal organization identified so far include:
- former advisor to the Minister of Energy Ihor Myroniuk;
- dmytro Basov, Executive Director for Physical Protection and Security of Energoatom JSC;
- businessman and head of the criminal organization Timur Mindich;
- four people – employees of the back office for money laundering.
At the same time, NABU reported only on searches at Energoatom, without mentioning Mindich or Halushchenko.
For his part, President of Ukraine Volodymyr Zelenskyy emphasized the need for transparency at Energoatom and the inevitability of punishment for corruption schemes in the energy sector.
