Cabinet appoints Titenko to head NERC

Ukraine’s Cabinet of Ministers appointed Sergiy Titenko to head the National Electricity Regulatory Commission. He previously headed the sector regulator in April 2004 – March 2005 and February – November 2007. Yegor Samusenko: We view Titenko’s appointment as positive for the sector, since he was in charge of the NERC when energy sector reform was proposed; we expect him to revive reform momentum, which is crucial for unlocking value in GenCos. We expect a positive reaction by the market to Centrenergo (UX: CEEN UK), Donbasenergo (UX: DOEN UK), Zakhidenergo (UX: ZAEN UK), and Dniproenergo (UX: DNEN UK).