The supervisory board of the state-owned "Energoatom" has decided to include the disputed electricity sales auctions in an independent analysis by EY. The matter concerns the tenders regarding which the head of the parliamentary energy committee, Andriy Gerus, has claimed possible manipulations and the use of insider information.
On November 9, this was reported by the press service of "Energoatom" citing the supervisory board's statement.
The independent audit will cover the procedure for preparing, approving and documenting the auctions, as well as compliance with internal procedures and the effectiveness of mechanisms for controlling electricity sales.
The supervisory board clarified that EY has been conducting a corporate governance and internal control review of "Energoatom" since June 2026. The review already includes electricity sales operations, and will now additionally cover the circumstances set out in Gerus's letter of November 5.
The analysis is being carried out under the oversight of the supervisory board's audit committee. Its results should identify possible deficiencies in corporate procedures and measures to address them.
"The supervisory board takes seriously any allegations of possible market manipulation or improper use of insider information in the company's commercial activities," — the statement says.
The company also said that information about possible violations will be passed to the competent state authorities. "Energoatom" undertakes to cooperate with relevant inspections and investigations.
The supervisory board will present the results of the independent analysis and information on the measures taken to the Cabinet of Ministers, which represents the state as the company's shareholder. It also promises to provide the corresponding information to the Verkhovna Rada and the public subject to legal and confidentiality requirements.
Gerus claimed possible losses of UAH 1.8 billion
The audit was prompted by an appeal from Andriy Gerus regarding an auction held by "Energoatom" on October 27 on the Ukrainian Energy Exchange.
As previously reported by Kurs.com.ua, the state-owned company sold 480,000 MWh of electricity for delivery on November 1–10 at a weighted average price of UAH 5,313.78 per MWh excluding VAT.
Subsequently, day-ahead market prices rose significantly. According to Gerus's calculations, the difference between the auction price and the average quotes on this market for November 1–6 could mean about UAH 1.8 billion in potentially lost revenue for the state company.
The MP also drew attention to the participation in the auction of "D.Trading", a company belonging to the DTEK group. In his opinion, certain market participants could have had prior knowledge of decisions that could affect the price of electricity.
However, the estimate of UAH 1.8 billion is not an established amount of losses. It is based on a comparison of prices in different market segments and does not prove that the entire volume of electricity sold could have been realized at a higher price.
D.Trading called the accusations groundless. The company said it participated in open exchange trading on equal terms, and the purchased volumes corresponded to its usual needs in the autumn-winter period.
Energy regulator launched a separate inquiry
In addition to EY's independent analysis, the circumstances of the disputed tenders are being examined by the National Energy and Utilities Regulatory Commission (NEURC).
On November 9, the regulator officially announced the start of an investigation into the auction of October 27 and the subsequent increase in day-ahead market prices on October 28.
Thus, the circumstances of the electricity sale are being examined in two ways: through an independent analysis of "Energoatom's" corporate procedures and a separate inquiry by the energy regulator.
As of November 9, the results of the audits have not been published. No facts of market manipulation or improper use of insider information have been established.
