During its May 6 meeting, the Supervisory Council of VAT EK Dniprooblenergo appointed Yuriy Karpichev to the company’s Board of Directors. He will be responsible for the company’s legal matters. Dniprooblenergo’s press-service reported the development.

Five out of seven members of Supervisory Council were present at the meeting, which gave the Council a quorum. Two representatives of Energy Company of Ukraine were absent although they had been notified of the meeting.

According to the company’s press-service, Dniprooblenergo works in a normal mode and adheres to the approved development strategy and plan.

Members of the Supervisory Council highly esteem to the work of the company’s executive body during the first quarter of 2008.

UNIAN reference: VAT Dniproolblenergo is Ukraine’s largest energy supplier.  It transfers and delivers nearly 27 percent of the country’s electrical power to end consumers. It has licenses to supply power over a vast territory of 32,000 square kilometers. The total length of its overhead electric lines amounts to 58,000 kilometers, while its underground cables are 5,500 kilometers long. The company operates 328 substations rated between 35 kW and 150 kW, and 15,000 power transformers.

Dniproolblenergo’s customers include nearly 24,000 companies, organizations and public institutions and close to 1.5 million households.

According to the Stock Market Infrastructure Development Agency, the state – through Energy Company of Ukraine – controls 75 percent of Dniproolblenergo. Cyprus-registered Larva Investments Limited owns 15.9 percent of the company’s stock.

In 2007, Dniproolblenergo saw its profit increase by 8.37 million hryvnias, or by 41.9 percent year-on-year, to 28.35 million hryvnias.