The Ministry of Energy discovered that Ukhydroenergo’s tops are overpaid

The Ministry of Energy and Environmental Protection reported that they did not support payments of $647.8 thousand to the head of Ukrhydroenergo last year.

The Ministry became aware that the head of Ukrhydroenergo by the decision of the Supervisory Board in December 2019 was accrued and paid more than UAH 3 million premium.

“Over the year, the amount of remuneration received by the head amounted to more than UAH 10 million – this is almost $430 thousand excluding salary. At the same time, the salary of the General Director of Ukrhydroenergo has more than tripled since July 2019, so the officials’s total income for the year amounted to $647.8 thousand. Now the salary of the head of Ukrhydroenergo is UAH 781 960 per month”, the message says.

It is noted that after the appointment of new members of the Supervisory Board of Ukrhydroenergo, the salary of the head of the company has more than tripled.

“The Ministry of Energy does not agree with such actions and considers it unacceptable to accrue and pay sky-high and unfounded monetary rewards at a time when the cost of living in the country as of January 1, 2020 is UAH 2027”, the Ministry said.

The Ministry also noted that in connection with this, the powers of a member of the Supervisory Board of Ukrhydroenergo Valentyn Hvozdii were prematurely terminated in February.

To recap, a former member of the supervisory board Valentyn Hvozdii appealed against his dismissal in court.

Subsequently, the court reinstated him in the post of Supervisory Board of Ukrhydroenergo.

Tags: The Cabinet of Ministers, contracts, NPP, tariffs, court, legislation, electricity, The Minystry of Energy and Coal Mining, Top management, energy market, ETL, electricity market, Ukrhydroenergo, Honcharuk

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