Yushchenko Pulls Plug On NC ECU

President Yushchenko disbanded the National Energy Company of Ukraine (NC ECU) yesterday by repealing a 2004 presidential decree which brought the company into existence. Alexander Paraschiy: The purpose of the NC ECU was to increase the effectiveness in the energy sector, however, over the last three years the company has achieved very few concrete results. Under Yurii Prodan, in 2005, the NC ECU embarked on a plan to settle debts in the energy sector, however, the process is still bogged down in the first stage. The end of the NC ECU will remove pressure on state owned companies to show true profits. On the one hand, the president’s move may speed up the process of privatization in the energy sector.