March of DFEC Managers to State Positions Continues.

Mykola Pashkevich, chairman of the Donbass Fuel and Energy Company (DFEC), the managing company for Rinat Akhmetov’s assets in the electric power sector, was appointed head of Ukrinterenergo, the state company responsible for electricity exports. His appointment followed last month’s appointments of Igor Glushchenko, Anatoly Lutsyshin and Alexander Rogozin, who had been directors of three different DFEC-managed companies, as heads (respectively) of the Electricity Company of Ukraine, the holding company that controls state stakes in electric power companies, Energorynok, the state-run wholesale electricity monopoly, and the National Electricity Regulatory Commission, which regulates the electric power and gas sectors. Tom Warner: The fact that most of Akhmetov’s top managers are moving from DFEC to state positions makes clear where his immediate priorities lie. His private companies in the sector are likely to enjoy advantages, but his plans to launch an IPO of DFEC within the next two years are likely to be delayed.