Ukrenergo has uncovered a scheme involving the theft of electricity worth over ₴447 million
The Prosecutor’s Office has uncovered a large-scale embezzlement scheme involving funds from PJSC NEC “Ukrenergo,” which, according to the investigation, operated between 2022 and 2024. The losses resulting from the scheme are estimated at over 447 million hryvnias. Five individuals have been notified of their status as suspects.
This was announced by Prosecutor General Ruslan Kravchenko.
According to the investigation, the organizer of the scheme is the founder and de facto controller of a number of private energy supply companies through which electricity was sold.
He recruited four accomplices to the scheme and created a network of controlled companies that supplied electricity to end consumers and systematically manipulated consumption forecasts.
The participants artificially underestimated projected electricity consumption volumes, knowing that actual usage would be significantly higher.
“In other words, ‘on paper’ they showed that little electricity was needed, but in reality they sold significantly more,” according to the investigation materials.
This resulted in a shortage, which the state covered to avoid power outages for consumers.
At the same time, the companies received full payment for electricity from customers, but the funds were not directed to Ukrenergo. Instead, they were diverted through affiliated firms and individual entrepreneurs.
According to the investigation, debts to Ukrenergo were deliberately not repaid but, on the contrary, accumulated. This led to the artificial bankruptcy of enterprises, after which the scheme was repeated through newly created companies.
All five participants have been notified of suspicion under Part 5 of Article 191 of the Criminal Code of Ukraine. The organizer is additionally charged under Part 3 of Article 27 of the Criminal Code of Ukraine. The issue of selecting preventive measures is currently being decided.
Law enforcement officials are also investigating possible additional instances of criminal activity and losses for the years 2025–2026. The investigation is ongoing.
