Ukrhydroenergo refutes the statement of the Ministry of Energy regarding salaries to top management

The press service of Ukrhydroenergo refutes the statement of the Ministry of Energy regarding high salaries to the top management of the company.

The company reports that the determination of the amount of remuneration, quarterly and annual bonuses to the General Director of Ukrhydroenergo is carried out within the limits determined by the resolution of the Cabinet of Ministers of Ukraine. And the actual amount of remuneration was determined and agreed upon by the Ministry of Energy and Coal (now the Ministry of Energy and Environmental Protection) on the basis of orders from the relevant ministry.

“Thus, the Supervisory Board of Ukrhydroenergo did not establish a different methodology or new remuneration for the CEO of the company. The criteria and indicators for determining the remuneration of heads of state-owned companies were approved by the Cabinet of Ministers in 1999. The methodology for determining the size and accrual was developed and approved by the shareholder – the state, represented by the relevant Ministry”, the statement said.

The General Director of Ukrhydroenergo Ihor Syrota noted that the company did not independently review and establish the official salary and amount of remuneration to the general director of the company.

“I also believe that the approved methodology does not correspond to reality. Approve the new methodology, and it will be introduced, accordingly, we will reduce the management’s salaries”, said Ihor Syrota, General Director of Ukrhydroenergo.

To recap, the Ministry of Energy and Environmental Protection reported that they did not support payments of $647.8 thousand to the head of Ukrhydroenergo in 2019.

The Ministry said that the Supervisory Board in December 2019 decided to accrue and pay more than UAH 3 million in premiums to the head of Ukrhydroenergo.

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

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