The delay in the reform of the energy market will reduce the financial stability of the country – expert

Отсрочка реформы энергорынка снизит финансовую устойчивость страны - эксперт

In case of delay under the act from 1 July reform of the electricity market, Ukraine will not receive assistance from international financial organizations

This will complicate the implementation of the commitments on the external debt and reduce the financial stability of our country. This analyst Svetlana Kushnir reported by TV channel NewsONE.

“We have a special body for the implementation of the energy market. It recently sent a letter to our international partners. They stated that they find unacceptable delay of the start of the second stage of the reform, which is scheduled in accordance with the law on 1 July. And they warn that in case of untimely introduction of the reform of the electricity market will be a big question of the next tranche of macro-financial assistance from the European Union. This is not some joke, it’s not funny. Because it’s half a billion euros, which we need. And EU macro-financial assistance “attached” the world Bank loan for half a billion dollars, which we also very much needed. Let’s not forget that the 2019 and 2020 are the years when we have enormous amounts payable on external borrowing”, — said Svetlana Kushnir.

At the end of April, the international community expressed concern about the deceleration of the launch of a new electricity market and called for the timely introduction of new power market. This was discussed in the joint letter of the head of the EU delegation to Ukraine H. Mingarelli, Director of the European energy community J. kopacz, head of the European investment Bank in Ukraine J.-E. where units of the managing Director of the European Bank for reconstruction and development in Eastern Europe and the Caucasus M. Patron, Director of USAID mission in Ukraine S. Fritz.

The launch of the competitive electricity market from 1 July 2019 is the obligation of Ukraine to the European Union. Reform in the energy sector is one of the conditions for granting Ukraine the second tranche of macro-financial assistance from EU in the amount of 500 million Euros.

March 22 the national Bank of Ukraine reported that in 2019, Ukraine should repay external state debt in the amount of 58,5 billion dollars.