The Government approved the draft Decision of the Association Council between Ukraine and the EU on amendments and additions to energy Annex XXVII to the Association Agreement between Ukraine and the EU. Moreover, the Cabinet of Ministers of Ukraine supported the submission to the Verkhovna Rada of a draft law "On ratification of the Decision of the Association Council between Ukraine and the EU on amendments and additions to Annex XXVII to the Association Agreement between Ukraine, on the one hand, and the European Union, the European Atomic Energy Community and their member states, on the other hand". Ivanna Klympush-Tsintsadze, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine, has voiced submission of the draft law to the Government for consideration by the Government. She called the endorsed decisions historic "as in the most important sector of the economy – energy - Ukraine starts not only legal but also infrastructure integration with the EU."
The ratification bill must now be approved by the Parliament. "In words, almost all of our parliamentarians are committed to European integration and supporting this course. Now they have a good opportunity to support real European integration. It is about transparent tariff formation, and the introduction of a transparent market for hydrocarbon production, which opens up the way for investment in the industry, and, thereby increasing our domestic production. This bill is especially important given the "gas" negotiations with the Russian Federation. Integration into a single EU energy market will allow us to significantly strengthen our bargaining positions. Therefore, this is a matter of national security and any delay is inappropriate in this issue", said Ivanna Klympush-Tsintsadze, urging MPs to consider the bill without undue delay.
Ratification of the amendments and additions to Annex XXVII to the Association Agreement between Ukraine and the EU will open up for Ukraine the possibility of deeper legal and infrastructural integration in the energy sector, which is one of the four areas currently identified as priorities on the way of the rapprochement of our state with the European Union. It should be noted that, in addition to energy, those priorities include a digital market, customs cooperation, as well as justice, freedom and security.
Under the document, Ukraine undertakes to hold consultations with the European Commission on compatibility with the provisions of the EU Acquis Communautaire (EU law - ed.) of any legislative proposal in the field of energy. In addition, Ukraine refrains from enacting laws earlier than the European Commission completes assessing the compatibility of the bill with the relevant provisions of the EU acquis and in case that the European Commission has come to the conclusion that the bill does not meet the requirements of the EU.
The amendments and supplements to the annex provide for not only the commitment of Ukraine in the field of energy but also the obligations of the EU side.
The Annex covers all energy markets. In particular, in the field of electricity, the introduction of EU Directives and Regulations concerning the conditions for access to the network for transboundary electricity flows, integrity and transparency in the wholesale electricity market and the reliability of electricity supply and investment in infrastructure are envisaged.