The energy market of Ukraine was ineffective and poisoned by corruption, and this created considerable difficulties for investment.
With the introduction of the new energy market the situation will change, says Know with reference to Forbes.
According to the publication, Ukraine has a number of problems in the energy sector: infrastructure is aging, she is in dire need of maintenance and upgrades. The system that existed before the reforms helped to attract investment in the country.
Two years ago, the Ukrainian Parliament adopted the law on the new electricity market model, similar to that used by the member countries of the EU. This will allow you to integrate the power grid of Ukraine in ENTSO-E — the benefit of energy security of Ukraine, noted in the article.
Reform of the electricity market will help to increase investment in the sector. According to estimates of the Ukrainian Institute of the future, generating companies will be able to attract 11.5 times more investment compared to the scenario, if the reforms will be.
The implementation of energy reforms and investment will increase the export of Ukrainian energy in the EU. Exports could rise to 25 billion kWh in 2030 compared to today’s 5 billion kWh. It will increase revenues from electricity exports to $ 1.5 billion. Synchronization with ENTSO-E will also strengthen competition on the internal electricity market and force companies to compete for domestic consumers, offering the best rates and quality service, says Forbes.
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On 1 July launched a new model of the electricity market in accordance with the provisions of the law “On electricity market”, adopted in 2017. According to the Director of GP “the market Operator” Vladimir Evdokimov results of the first auction indicate the successful start of the energy reform. MP Serhiy Sazhko noted that after the start of the reform of Ukraine’s power finally ceased to operate in manual mode