The legislation on REMIT, which was adopted in July, opens the possibility to corporatize the “Guaranteed Buyer” (GB). Currently, GB is the only enterprise in the energy sector that has remained in state ownership status. In order to effectively support energy sector development and develop electricity exports, the company must meet international standards, become transparent and introduce relevant governance procedures.

In accordance with the requirements of the Law of Ukraine “On Management of State-Owned Entities”, last week “Guaranteed Buyer” appealed to the Cabinet of Ministers of Ukraine with a proposal to start the procedure of transformation from a state-owned enterprise into a joint-stock company. The company hopes for the support of the government, key ministries and partners in the renewable energy sector.

The EUEA welcomes the beginning of the corporatization process of “Guaranteed Buyer” and emphasizes the importance of introducing corporate governance in the company. This will strengthen the company’s operations and open up new opportunities for the company, as well as contribute to the transparency of its activities and harmonize its work with European standards. Strengthening the trust of stakeholders, and increasing the company’s competitiveness in the energy market will be important results of this process.