The World Bank launched a mission to study the situation in the energy sector

In Ukraine, a special mission of the World Bank specialists began to study the situation in the energy sector of Ukraine in order to find optimal mechanisms to support the industry, the Ministry of Energy reports.

 The World Bank has formed a mission at the request of Acting Minister of Energy Olha Buslavets.

“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 the regulator, and enterprises, the optimal mechanism for supporting the energy industry will be found. I will contribute in every way to the work of the mission and provide all the necessary information,” said the Minister.

The mission covers key systemic issues, including:

- solving the problems of renewable energy in the context of the new legislative framework for the restructuring of FIT;

- rationalization of consumer tariffs;

- comprehensive plan for financial recovery of NPC Ukrenergo;

- the World Bank support to NPC Ukrenergo in work on integration and synchronization with the European power system;

- support by the World Bank of GTS Operator  of Ukraine in work on modernization of the infrastructure.

During the meeting, acting Minister informed the World Bank representatives about the situation on the electricity market, the state of passage of the draft law on a new model for supporting “green” energy in the parliament (draft law No.3658 “On Improving the Conditions for Supporting the Production of Electric Energy from Alternative Energy Sources”).

“The draft law was passed on first reading. The parliament also voted to reduce the timelines for submitting amendments and alternative projects. The people's deputies submitted a large number of amendments, which are now being developed in the secretariat of the profile committee of the Verkhovna Rada. But the Ministry has presented its position, and we will emphasize the need to adopt the bill in the version in which it implements the terms of the Memorandum between the government and the producers of green electricity,” Olha Buslavets noted.

The parties discussed possible financial and expert support mechanisms by the World Bank for the energy sector of Ukraine and agreed on further joint work within the framework of the mission.

Earlier it was reported that the World Bank and Germany will help in the transformation of the coal industry in Ukraine.

Tags: The Cabinet of Ministers, gas, contracts, renewable energy, coal mining, electricity, EU, coal, energy market, Ukrenergo, feed-in tariff, ETL, electricity market, debt, renewables, draft law, GTS Operator, agreement, modernization, power system balance, OGTSU, infrastructure, technologies, electricity transmission, Shmyhal, balancing restrictions, generation, crisis, Buslavets, The Ministry of Energy, economy, market, power grid

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