Ukraine’s State Bureau of Investigation (SBI) raided the home of Volodymyr Kudrytskyi, the former CEO of the state-owned power grid operator Ukrenergo, on Tuesday, Oct. 21, law enforcement sources confirmed to Ukrainska Pravda.
Investigators are probing alleged abuse of office and embezzlement of company funds. According to media sources, the investigation focuses on claims that Kudrytskyi inflated the amount of forest cleared and the costs of contractor work on several energy transmission projects.
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In addition to Kudrytskyi’s residence, investigators also conducted searches at Ukrenergo’s offices, contractor sites, and other companies reportedly linked to the suspected scheme, Ukrainska Pravda sources said.
Law enforcement opened multiple criminal cases connected to Kudrytskyi’s tenure at Ukrenergo. The investigation remains ongoing.
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What is Ukrnegro and who is Volodymyr Kudrytskyi?
Ukrenergo is a state-owned electricity transmission system operator overseen by Ukraine’s Ministry of Energy. The company plays a critical role in maintaining the balance between Ukraine’s electricity generation and consumption.
Appointed as CEO in 2020, Kudrytskyi oversaw a period of corporate governance reform that included the creation of a supervisory board. However, Kudrytskyi allegedly became a target of political rivalry with then-Energy Minister Herman Halushchenko, which may have contributed to his dismissal on Aug. 30, 2024.
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The official reason for Kudrytskyi’s removal was his alleged failure to complete defensive constructions around high-voltage grid facilities – an omission that purportedly led to power supply disruptions following Russian missile strikes on Aug. 26.
However, supervisory board members Daniel Dobbeni and Peder Andreasen disputed the official explanation. In their resignation statement, they asserted that Kudrytskyi’s dismissal was primarily political rather than performance-related.
Leadership turmoil at Ukrenergo
Tensions within Ukrenergo persisted after Kudrytskyi’s departure.
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On Sept. 5, the supervisory board appointed Oleksii Brekht as acting chairman, though the announcement was only made public on Sept. 13. Brekht led the company from September 2024 to June 2025, earning credit for maintaining grid stability through a challenging winter season amid continued Russian attacks.
A competition for the position of Chairman of the Management Board was announced on Feb. 5, 2025, and Vitaliy Zaychenko emerged as the winner.
However, in October, Ukrenergo abruptly removed Zaychenko and reinstated Brekht, following a Sept. 16 ruling by the National Securities and Stock Market Commission citing procedural violations in board appointments. The supervisory board said the decision reflected a loss of confidence in Zaychenko amid ongoing internal conflicts.
The situation later shifted once again.
After consultations between the Ministry of Energy, the Ministry of Economy, and foreign members of Ukrenergo’s supervisory board, the Energy Ministry confirmed that Vitaliy Zaychenko would remain as chairman. The decision, endorsed by the supervisory board, aligned with the positions of the National Energy and Utilities Regulatory Commission, the National Securities and Stock Market Commission, and the Kyiv Commercial Court, which had previously suspended the registration of Zaychenko’s dismissal.
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