EU illustrates willingness to support Energy Efficiency Fund, claims Prime Minister

The European Union pledges readiness to provide assistance for the Energy Efficiency Fund, which according to the decision of the Government and Parliament, will kick off its work from January next year. Prime Minister of Ukraine Volodymyr Groysman said to regional media.

"We allocate a sum worth than UAH 2 billion, of which 400 million hryvnias are" warm loans", and funding to the tune of UAH 1.6 billion is allocated to large-scale projects of energy modernization," stressed the Head of Government, "The Energy Efficiency Fund will start its work in January. And we expect (in addition to budget allocations) our European partners to allocate assistance for the Fund. There is a decision on the disbursement of 100 million euros that is approximately 3 billion hryvnias. This tranche will be divided into several periods. Last week I visited Brussels and we talked about expanding the funding of our energy efficiency programs from the EU".

He placed an emphasis on the fact that energy modernization projects will be implemented simultaneously with programs for the introduction of efficient consumption of resources, as well as a significant increase in the production of own gas. Volodymyr Groysman drew attention to the fact that discovered deposits in Ukraine allow to completely satisfy country’s needs for fuel. Hence, the Government's task is to create conditions for the restoration and revival of gas production.

According to the Prime Minister, a first step in this direction will be the reduction of rental rates - depending on the depth of the well. "This year we have an increase of about 650 million cubic meters of our own wells. Reducing rent will be a good incentive for significant increase in production," he claimed.

The Prime Minister stressed the provision of own energy resources will allow the reach the central aim, inter alia to achieve a full energy independence, a reduction in the price of fuel within the country and the transformation of Ukraine from a net importer to an exporter of gas.