The vision of the European Bank for Reconstruction and Development (EBRD) of the implementation of the system of green auctions on the basis of best world practices was discussed at a round table organized by the Committee of the Verkhovna Rada of Ukraine on Fuel and Energy Complex, Nuclear Policy and Nuclear Safety. The event was attended by lawmakers, representatives of ministries and state authorities, including the Head of the State Agency for Energy Efficiency and Energy Saving Serhii Savchuk.
It should be noted that the EBRD is a powerful player in the market of "clean" energy. EBRD allocated another 250 million euros to further support the Ukrainian market.
Apart from that, the EBRD in synergy with the Energy Community Secretariat and the International Renewable Energy Agency (IRENA) have issued Joint Policy Guidelines on Competitive Selection and Support for Renewable Energy, including through auctions.
The EBRD confirms one of the important benefits of auctions, namely the ability to reduce the price of "clean" electricity by increasing competition between market players. This is incredibly important for the Ukrainian market. Also, auctions give an opportunity: to lead the "green" business for the long term; to stimulate the use of innovations when implementing projects; to make the market more predictable; and to reduce investment risks.
In turn, the Head of the State Agency for Energy Efficiency and Energy Saving Serhii Savchuk informed the participants of the round table that the Ukraine;s initiative on the implementation of auctions is also supported by Adnan Z. Amin, IRENA Director-General.