Gaz Ukrainy proposes creating subsidiary with public gas distribution network on its balance sheet
Gaz Ukrainy has proposed that a subsidiary which would have all the public gas distribution networks on its balance sheet should be created.
The initiative was outlined in a letter of the company sent to national joint-stock company Naftogaz Ukrainy on October 16.
"The creation of a legal entity, agreeing the regulations, the size of charter capital and making other decisions required for the organization of economic operations of the created company by Gaz Ukrainy is under the authority of Naftogaz Ukrainy and does not require managerial decisions by the Energy and Coal Industry of Ukraine or the government. This would allow for carrying out a complex of measures to switch to the fee-based use of the gas distribution network without spending time on red tape," the company said in the letter.
The company said that the prompt financing of the subsidiary could be secured thanks to recourse being assigned under the agreement on the restructuring of arrears of some consumers to Gaz Ukrainy.
