First among state-owned companies: Ukrhydroenergo's supervisory board approves financial plan
Ukrhydroenergo's supervisory board was the first among state-owned companies to approve the financial plan 2025 based on the new rules that meet OECD requirements. Previously, such powers belonged exclusively to the shareholder, but now this right has been transferred to the Supervisory Board, significantly strengthening the company's corporate governance.
At the same time, the medium-term strategic plan for 2025-2027 was approved. These documents were developed based on the key financial, operational and non-financial indicators in the Owner's Expectations Letter.
Valentyn Gvozdiy, chairman of the supervisory board, emphasised the importance of this step:
‘We were the first among state-owned companies to pave the way for strengthening corporate governance. Thanks to the updated legislation, we are setting high standards of compliance, which are important for attracting investment and ensuring the company's sustainable development. These plans provide clear benchmarks for achieving financial, operational and non-financial goals aligned with Ukrhydroenergo's sustainable development strategy and the state's expectations as a shareholder.’
The Strategic Plan for 2025-2027 envisages infrastructure modernisation, implementation of new projects and introduction of innovative technologies. Such decisions of the Supervisory Board are intended to ensure stable development, optimise financial performance and strengthen Ukrhydroenergo's leadership position in the energy market.
For reference, the Government issued an order today approving the Owner's Letter of Expectations for Ukrhydroenergo, which sets out the key requirements and parameters of the company's operations. The document is available at link.
The Supervisory Board's Nomination and Remuneration, Risk Management, Strategy and Sustainable Development, Innovation, and Audit Committees met and approved the financial and strategic plans.
