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Ukraine assesses legislation to support nuclear sector

Tuesday, 14 January 2020

Energoatom yesterday discussed eight legislative bills that it says require adoption to help it continue to meet international obligations, standards and requirements, as well as others that concern the nuclear power plant operator's budget. The meeting was attended by Pavel Pavlyshin, Energoatom's acting president, and Ostap Shipailo, chairman of the subcommittee on nuclear energy and nuclear safety of the Ukrainian parliament, the Verkhovna Rada.

Ukraine assesses legislation to support nuclear sector — Pavlyshin (second from left) and Shipailo (far right) at the meeting yesterday (Image: Energoatom)

Among the topics discussed was the draft law On amendments to the Budget Code of Ukraine regarding the protection from inflation of financial reserve funds intended for decommissioning of nuclear facilities, as well as measures aimed at paying off debt accrued on the wholesale electricity market and by the general designer of nuclear facilities and facilities for the management of radioactive waste.

Natalya Musevich, executive director for legal issues and support of procurement procedures, said that, in connection with the adoption of the presidential decree On urgent measures to implement reforms and strengthen the state, it had been decided to send the draft law On the peculiarities of the transformation of Energoatom into a state joint-stock company to the Ministry of Energy and Environmental Protection tomorrow.

Energoatom's chief accountant, Natalya Vashetina, reported on legislative initiatives that have been performed in connection with changes in the tax code and the transition to international financial reporting standards, as well as the need for their further support.

The meeting also discussed the current state and problems of legislative support for the financial stabilisation of Energoatom, in particular the issues of paying off debt, resolving tax legislation and its work in the new electricity market.

The director of Energoatom-Trading, Sergey Bedin, said that additional costs had appeared in the new market model that had not been taken into account when setting tariffs in 2019 for dispatch and excise tax on electricity. These total about UAH2.4 billion (USD100 million). He added that Energoatom had already notified the Cabinet of Ministers and the Ministry of Energy and Environmental Protection of this.

Shipailo said the people's deputies were willing to work with Energoatom on the adoption of draft laws conducive to current activities and the development of the nuclear industry, and emphasised the need for open dialogue between the company and parliamentarians.

Ukraine's Cabinet appointed Pavlyshin as acting head of Energoatom on 4 December, following the dismissal of Yury Nedashkovsky.