Starting from this year, Energy Efficiency Fund kicked off its work in Ukraine, and it will be a new and effective tool for implementing state energy modernization projects both at the level of households and at the level of legal entities. The work of the Fund is regulated by the legislation of Ukraine, and its budget is formed at the expense of the State budget and, as expected, by funding from international partners of Ukraine.

According to the Prime Minister of Ukraine, this is, indeed, the beginning of large-scale transformations, first of all, in the housing and utilities sector. "We will increase resources in order for Ukraine to become energy efficient, for people to receive heating and comfort in their homes, while paying a moderate price (for services)," the Head of Government stressed.

The work of the Energy Efficiency Fund is expected to be based on the principles of transparency, legality, competition, voluntariness and responsibility. The Fund will provide funds for the implementation of thermal modernization projects, introducing effective monitoring and control systems, establishing effective heating and cooling systems and equipment, and  replacing existing systems and equipment with  more efficient ones. The form of the provision of funds will be a partial reimbursement of the cost of energy efficiency measures for individuals and legal entities.

"We allocate a total of UAH 2 billion [for energy efficiency programs], including UAH 400 million for 'warm loans' and UAH 1.6 billion for large-scale energy modernization projects, Prime Minister Volodymyr Groysman remarked, We expect to receive funds from European partners in addition to budgetary allocations. There is a decision to allocate 100 million euros , this is about UAH 3 billion. This tranche will be divided into several periods," he underlined.

The Head of Government placed a special emphasis on the fact that all energy modernization projects would be carried out simultaneously with programs for the introduction of efficient consumption of resources, as well as a significant increase in the production of domestic natural gas.

According to Government forecasts, over 3-5 years of the work of the Energy Efficiency Fund, annual gas saving due to efficient fuel use will make up at least 1.5 billion cubic meters and, at the same time, the launch of new production facilities based on the latest technologies will create an additional 75,000 new jobs.