National Anti-Corruption Bureau of Ukraine and Specialized Anti-Corruption Prosecutor’s Office have completed the investigation into the case involving losses of 176 million hryvnias at Centrenergo

The National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) have completed an investigation into the suspicion of three individuals in a case involving the causing of over 176 million UAH in damages to the state-owned company Centerenergo.

This was reported by NABU.

The individuals in question include a former member of Centerenergo’s management, a former department head at Centerenergo and the head of the private company United Energy, which is associated with Igor Kolomoisky.

The suspects in this case are alleged to have abused their official positions and engaged in official forgery. They were informed of the suspicions in May 2023. Materials related to their accomplices have been separated into a separate investigation.

Centerenergo is the only state-owned energy-generating company in Ukraine, consisting of three thermal power stations: Tripolska TPP, Zmiivska TPP, Uglegorska TPP and a separate unit called Remenergo (Cherkasy).

According to the investigation in 2020, Centerenergo entered into an agreement to sell electricity to United Energy, the winner of an auction. Due to the failure to purchase the contracted electricity under these agreements, the winning company was supposed to pay a penalty.

To avoid the penalty, Centerenergo retrospectively entered into additional agreements, which removed provisions in the original agreements that limited deviations in the amount of electricity selection to 5% of the contract volume. These changes allowed United Energy to select any amount of electricity. As a result, Centerenergo incurred a loss of 176.8 million UAH.