Ukrainian energy system to become part of European market by 2017

Deputy Minister of Energy and Coal Industry of Ukraine Vadym Ulyda has said this at a press conference at the Government’s House. Ukraine holds the European vector of development, including in the energy sector. He has also noted that the integration of the Integrated Power System (IPS) of Ukraine into the European energy system is impossible without implementing technical standards to be compliant with the standards of ENTSO-E, and implementation of appropriate modernization of power equipment.

The integration of the Ukrainian Integrated Power System into the EU energy system today is a priority in the electricity sector.

"This is the integration of the Ukraine’s Integrated Power System into the European power systems, as well as the integration of the GTS into the European power systems. These projects should ensure that in 2017 to be established technical and economic conditions which would allow Ukrainian energy to become part of the European energy market", said the Deputy Minister.

The Ukraine’s Government has defined a period to create the conditions for such accession. This will create the conditions for the entry of Ukraine into the EU energy market and solve many tasks the Government faces. Appropriate steps taken by the Ministry will provide additional inflow of investment worth US$ 4.5 billion.

Along with the technical integration of the Ukraine’s IPS is to be carried out integration of the electricity market in accordance with EU legislation. Now a new law "On Principles of Electricity Market", which provides the liberalization of the electricity market, is developing.