• Українською
  • Olha Buslavets discusses with WB representatives measures to stabilize the energy sector
    Ministry of Energy and Environmental Protection of Ukraine, posted 28 May 2020 21:12

    Acting Minister of Energy and Environmental Protection Olha Buslavets held a video conference to discuss with representatives of the World Bank the situation in the energy sector of Ukraine.

    Olga Buslavets told about the measures implemented within the framework of the Anti-Crisis Energy Headquarters chaired by Prime Minister Denys Shmyhal. "Only the implementation of a complex of these tasks will allow to stabilize the situation and ensure a reliable supply of electricity to consumers," she said.

    The spread of coronavirus has had a rather negative impact on the energy market of Ukraine and has led to physical, fuel and financial imbalances in the system. Now comprehensive solutions are being developed in order to balance the system and ensure the liquidity of key state-owned generating companies.

    One the possible solutions could be financial support from international financial organizations. "Financial instruments are one of the areas that can balance the situation. I would like to emphasize that we understand that if we do not stabilize the market situation, do not provide real market conditions, it would be not enough to consider only an issue of financial instruments," said Olha Buslavets.

    Representatives of the World Bank stressed that they understand the complexity of the situation in the energy sector of Ukraine and fully support the steps of the Government and the Ministry of Energy to stabilize it.

    The parties agreed that a current objective is to identify priority areas of cooperation in order to develop synergy to improve the situation in the energy sector. Representatives of the World Bank expressed readiness to organize a work of a "virtual mission" in Ukraine in the near future, which together with the Ministry will work out priority measures that need the Bank's support.