During the meeting with Prime Minister of Ukraine Volodymyr Groysman, Vice-President of the European Commission for Energy Union Maroš Šefčovič positively evaluated the decision of the Government to introduce a market-based gas price.

“I know that to increase the prices to the market level – it’s one of the best ways to tackle corruption, how to minimize the scope for different speculation, and how to get rid of many negativities which have been affecting the Ukrainian energy market in the past. It restores the normal market signals, brings in investments, brings in the competition and improves the quality of the market itself”, Maroš Šefčovič emphasized.

The Vice-President of the European Commission also commended the subsidy system envisaged by the Government aimed at providing assistance to the vulnerable layers of the population who badly need it due to the introduction of the market price for gas.

“Your Government is very conscious about the effect that the high energy prices have on the population. We very much support your approach to offer social assistance to those who need it to pay higher energy prices”, stressed Maroš Šefčovič.

He noted similar measures had been introduced in many European countries and, according to him, appear an effective way to support the population, while market mechanisms aren’t fully recovered.

Volodymyr Groysman noted that the reform in the energy sector is important for Ukraine, as in the past this area had traditionally been the permanent source of corruption, mismanagement, the closed market with excessive and overwhelming consumption, and we faced many challenges such as the gas supply problem, and decreasing domestic production.

The Government of Ukraine is committed to carrying out the necessary reforms and changes in the country, he stressed.

“We want to ensure that our energy is efficient and transparent and no mismanagement takes place in the energy industry. We are ready to make the necessary reforms to ensure our energy independence and energy efficiency including the amendment of necessary laws. The Government is fully committed to implementing all of its obligations including those under the association Agreement”, underlined Volodymyr Groysman

Vice-President of the European Commission for Energy Union Maroš Šefčovič thanked the Prime Minister for the efforts in introducing necessary reforms in Ukraine.