The government has initiated a systematic overhaul of the leadership of state-owned enterprises in the fuel and energy sector (FEC). Within a short period, supervisory boards and executive bodies at these enterprises will be formed or updated, competitive selections for the positions of heads of executive bodies will be conducted, and more. To prevent the dilution of responsibilities prescribed by law for supervisory boards, the charters of FEC state-owned enterprises, as well as regulations on the formation of supervisory boards, will be reviewed and updated. The Cabinet of Ministers adopted the relevant decision at its meeting on November 17, 2025.
“In the near future, we will announce a competition for the supervisory board of NJSC Naftogaz of Ukraine and form a new board for SE NAEK Energoatom. The schedule is very intensive; we plan to complete most of the changes in FEC state-owned enterprises this year. An important element of this overhaul is updating charters and regulations. They will be aligned to a consistent format according to OECD guiding principles so that all state energy companies operate under the same clear rules,” said Oleksiy Sobolev, Minister of Economy, Environment, and Agriculture of Ukraine.
The government’s decision provides, in particular, for the formation of:
- a new composition of the supervisory boards of Energoatom and Naftogaz of Ukraine;
- a new composition of the executive body of Energoatom;
- the executive bodies of the Naftogaz Group (Ukrgazvydobuvannya, Ukrnafta, Gas Distribution Networks of Ukraine) in full;
- the supervisory board of Ukrhydroenergo in full;
- a new composition of the supervisory board of PJSC Centrenergo;
- the supervisory board of Ukrainian Distribution Networks;
- the supervisory board of Regional Electric Networks, and so on.
The state will also replace its representatives on the supervisory boards of LLC Gas Transmission System Operator of Ukraine and PJSC National Energy Company Ukrenergo.
Additionally, competitive selections will be held for the positions of heads of executive bodies in Ukrhydroenergo and the Gas Transmission System Operator of Ukraine.
The decision also provides for completing the transformation of the state-owned enterprise “Guaranteed Buyer” into a joint-stock company by December 31, 2025, and forming the supervisory board of the newly established joint-stock company.
