Consultants on NNEGC ‘Energoatom’ Corporatization Project Visited Rivne NPP
Representatives of ‘Deloitte & Touche’ who are involved in the project of transformation of NNEGC ‘Energoatom’ from the state owned unitary enterprise to corporate economic structure had an information mission to Rivne NPP. The project implementation will last till the end of July, 2018.
The purpose of the visit of consultants and experts of international consulting company ‘Deloitte & Touche’, which won the tender for the project on corporatization of NNEGC ‘Energoatom’ became presentation of goals, key issues, implementation stages of the project ‘Ukraine: Energoatom – corporate sustainable development’ to the management of RNPP and representatives of the plant’s trade union. Corporatization of Energoatom is one of the covenants of the Loan Agreement with the EBRD for implementation of Complex Consolidated Safety Upgrades of Ukrainian NPPs (CCSUP). Recently, an inception report on corporatization was presented in Kyiv.
In July, 2018, according to Taras Seryy, deputy project manager and expert of ‘Deloitte & Touche’, draft 10- year plan of Energoatom development in financial management, long-term capital raising, and cash flow management will have to be completed. Three project stages will include review and assessment of the applicable legislative framework in Ukraine, development of the Road Map of corporatization of Energoatom, finalization of the corporate governance issues, and determining of authorizations of the board of directors in view of best practices and international standards. As Taras Seryy observed, Energoatom expected, in particular, changing from the unitary state owned enterprise to public joint stock company. In future, this will allow establishing of joint ventures, raising investments, facilitating the interaction with the Energy Market (Wholesale Electricity Market), in other words, becoming a more competitive enterprise with a transparent management scheme. Development of the Roadmap, i.e. the plan of actions required for corporatization, is on-going. After the Roadmap is approved, it will be monitored and the Company will be supported.
Pavlo Pavlyshin, the general director of Rivne NPP, is convinced in positive future changes. In his opinion, it is important that the balance should be maintained in the course of structural changes, since abandoning of the current governance type is now evident. This is confirmed by the absence of the state owned unitary nuclear generating enterprises in the world.