Energy reform: new energy efficiency laws inked

Energy sector and energy independence reform is underway in Ukraine. The Ukrainian Government has developed laws on energy efficiency to promote economization of energy resource consumption and establishment of a new comprehensive market of energy services with thousands of new jobs.

New laws are aimed at creating more comfortable conditions in hospitals, kindergartens, schools and other budgetary institutions through attraction of private investors to undertake a large-scale energy retrofitting.

The laws shall come into force from October 2015, at the beginning of the heating season. Local governments obtain an opportunity to conclude deals with private companies for energy conservation services. Due to the cost-effective measures, the funds will be fully returned by government to the investor. The business will get an impetus for the development and creation of new workplaces, while the budgets of all levels - additional sources of revenues.

Investments in energy efficiency of the budgetary sphere are needed in the amount of EUR 4.4 billion.

Nowadays around 100 thousand budgetary institutions require thermo-retrofitting, that will allow to economize in 2020 up to 200 million cubic meters of gas and other resources.