The World Bank specialists are studying the situation in Ukraine’s energy sector in in order to find the optimal mechanisms to support the industry. The work of the mission, which was formed by the World Bank at the request of the acting Minister of Energy Olha Buslavets, has been coordinated during the meeting of the head of the ministry with representatives of the institute.
“We are pleased to welcome the decision to organize a separate mission for the bank’s specialists. I hope that during the work of the mission with specialists from the Ministry of Energy, other ministries and regulators, enterprises, to find out an optimal mechanism for supporting the energy industry. I will do my best to contribute to the work of the mission and provide all the necessary information,” Buslavets said.
The mission will study key systemic issues, including solving the problems of renewable energy in the context of the new legal framework for the restructuring of the “green tariff”, rationalization of consumer tariffs, develop comprehensive plan for the financial recovery of Ukrenergo, World Bank support to Ukrenergo on integration and synchronization with the European energy system and modernization of the infrastructure of the GTS Operator.
During the meeting, acting Minister informed the World Bank representatives about the situation on the electricity market, the passage in the parliament of the bill on a new model of support for “green” energy.
According to her, the bill was adopted in the first reading. Also, the parliament voted to reduce the deadline for submitting amendments and alternative projects.
The head of the ministry spoke about the next steps to stabilize the situation in the market destabilized because of debts, and the potential positive impact of the use of non-tariff methods to partially cover them.
She also added that the President signed a law that makes it possible to pay off debts that arose in the previous model of the electricity market existed before July 2019 (the Law of Ukraine “On Measures Aimed at Paying off Debts on the Wholesale Electricity Market” came into force 16 July 2020).
Read also: Ukraine asks World Bank for USD 350M loan.
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