Ukraine seeks to adapt the best policies of the European Union and for this purpose in the last 1.5 years, the Government has been actively implementing and developing the gas and electricity market, as well as intensively preparing for synchronization with the European Network of Transmission System Operators for Electricity (ENTSO-E) in 2023. This was stated by Prime Minister Denys Shmyhal during a round table on energy in Ukraine organized by the World Economic Forum (WEF) on June 3.
The Head of Government stressed that Ukraine is integrating the approach of the World Economic Forum System Value into economic planning. In particular, within this approach, important factors will be energy efficiency, modernization of distribution networks and increasing the share of renewable energy sources.
“The System Value approach shaped by the WEF defines a set of solutions that contribute to the sustainable development of economic and energy systems. It stipulates for a better and more complete assessment of economic, environmental, social and technological results of the implementation of solutions in the field of energy. This tool will also be used for "green" modernization of the economy," the Prime Minister underscored.
Denys Shmyhal thanked the WEF for confirming in the report of the Energy Transition Index (ETI) 2021 the consistent progress of Ukraine on the path to energy transformation.
The Prime Minister in his speech spoke about the steps that can boost Ukraine's further progress in this direction.
The Head of Government noted that Ukraine has one of the most energy-intensive economies in Europe, and energy efficiency measures will help decarbonize Ukraine’s economy, increase investment in the technology sector and create new jobs.
As Denys Shmyhal stressed, according to the WEF analysis, investments in the modernization of distribution networks are also an effective instrument for creating new jobs.
"Distribution Network Modernization in Ukraine will improve the quality of electricity supply, reduce losses in the networks and, as a result, reduce greenhouse gas emissions. Last year, we launched a mechanism that enables us to take a systematic approach to upgrade electricity networks and make it easier to connect to them," said the Prime Minister.
Apart from that, Denys Shmyhal noted that over the past three years, the share of renewable energy sources in the structure of energy generation in Ukraine has increased from 1.7% in 2018 to 7.7% in 2020.
According to the Head of Government, the synchronization with the ENTSO-E, which is planned for 2023, will open wide prospects for the development of renewable energy sources in Ukraine, while increasing the stability of Ukrainian and European energy systems.
The Prime Minister expressed confidence that in the next report of the WEF Energy Transition Index, Ukraine will be placed in a higher position due to the active development of smart grids, hydrogen economy and energy storage systems.