The Verkhovna Rada has adopted the draft law "On Amendments to Certain Laws of Ukraine on the Restoration and Green Transformation of the Energy System of Ukraine" (Reg. No. 9011-d), which aims to stimulate the development of renewable energy on a competitive market basis. The legislative initiative combines the provisions of several draft laws developed by the Ministry of Energy and MPs.
The draft law enables electricity consumers to become active participants in the electricity market and strengthen their energy security through the use of self-generation. In other words, consumers can install generation for their own needs, and surplus electricity can be sold to the grid at free market prices.
The bill also provides for the possibility to verify electricity generated from renewable energy sources, to provide guarantees of origin for a certain amount of electricity supplied to the grid. This will increase the interest of consumers in purchasing green electricity and in the future will allow exporters to avoid additional taxation when importing their products into the EU.
A number of other innovations are being introduced, including a modern model of contracts for difference for green auctions, a market premium system for producers operating under the green tariff, improved mechanisms for corporate contracts, and the right for investors to complete renewable energy facilities that were suspended due to full-scale military aggression this year.
"Due to the shelling and occupation, Ukraine has lost 75% of its wind generation and more than 20% of its solar generation. These are significant losses for our power system. But even in such conditions, renewable sources are making a significant contribution to the country's energy balance. Stimulating the development of renewable energy is one of the priorities of the Energy Strategy of Ukraine," said Minister of Energy German Galushchenko.
The expected results of the adoption of the law are the formation of a trend of sustainable development of renewable energy on a market basis, strengthening the security of electricity supply to consumers and reducing Ukraine's dependence on imported energy resources. The implementation of the law will ensure further approximation of the principles of Ukraine's energy policy to the energy policy of the European Union.