Energy Company of Ukraine explained

Energy Company of Ukraine
Native Name:АТ «Енергетична компанія України»
Type:State owned
Location City:Kyiv
Location Country:Ukraine
Area Served:Ukraine
Industry:Energy
Services:Electricity and natural gas supply, import and export of energy resources, balancing group services, green energy trading, energy security projects
Owner:State of Ukraine
Parent:State Property Fund of Ukraine

JSC Energy Company of Ukraine (ECU) (Ukrainian: АТ "Енергетична компанія України") is a state-owned energy trading company, started its commercial operations in 2022.

The company operates under The State Property Fund of Ukraine.[1]

Operations

Energy Company of Ukraine is the one of the largest importer of electricity from European Union. In March 2024 the company has doubled the volume of its electricity import to compensate the losses of Ukrainian power system caused by shelling of country's power facilities.[2]

ECU is among TOP 3 green energy traders in Ukraine, having contracts with leading renewable energy producers. [3]

The company s the founder of the first state balancing group of electricity market participants.[4]

Corporate governance

In June, 2024, The State Property Fund of Ukraine has announced a competitive selection for the positions of three independent members of ECU’s supervisory board. [5]

Former subsidiaries

Previously the company owned shares in energy production and distribution companies, but during 2000-2014 most of them were sold within the privatization process.[6]

See also

External links

Notes and References

  1. Web site: The State Property Fund of Ukraine has begun forming the supervisory board of JSC "Energy Company of Ukraine" . 2024-07-10 . Фонд державного майна України . en-EN.
  2. Web site: Energy security of Ukraine is one of the key priorities of the state . 2024-06-13 . Фонд державного майна України . en-EN.
  3. Web site: EKU WILL HELP WIND POWER PRODUCERS ENTER THE FREE MARKET - News UWEA . 2024-07-10 . uwea.com.ua.
  4. Web site: ECU - Press-Releases . The Official Website of ECU.
  5. Web site: The State Property Fund of Ukraine has begun forming the supervisory board of JSC "Energy Company of Ukraine" . 2024-07-10 . Фонд державного майна України . en-EN.
  6. List of subsidiaries that are part of the Energy Company of Ukraine (official website)