New electricity market needs to be introduced in Ukraine as soon as possible, - USAID

Source : 112 Ukraine

Launching the market will increase competition in the Ukrainian energy sector, the statement said
09:12, 8 June 2019
Open source
The United States Agency for International Development (USAID) believes that a new electricity market in Ukraine should be introduced in a timely manner. This position was voiced at the representatives of the energy industry meeting "Introduction of a new electric energy market in Ukraine. Challenges and solutions", dedicated to the launch of the market from July 1, 2019. This was reported by Obozrevatel.

The event was attended by representatives of the regulator (the National Commission implementing state regulation in the fields of energy and utilities) and energy companies. Most participants agreed that a new liberalized market is necessary for Ukraine. USAID senior energy economist, assessing the degree of market preparation for the launch, said: "We do not believe that the market may not make money from July 1! Market failure is impossible."

The market will increase competition in the Ukrainian energy sector. This was also the subject of discussion of the meeting participants. “Statements that there is no competition is not true. There is competition now,” said Krassimir Kanev.
Related: 'Gas price for population should not exceed $135-142', - Medvedchuk

"The market is segmented. And in each segment there is already competition. And when imports begin, competition will be even more substantial. Today, Ukrainian traders are important and need to gain experience in the market. When European traders come along with integration into Europe, Ukrainian traders will already be able to work and compete ", - he stressed.

Kanev also noted that electricity prices will fall in the future. And the reason for the decline in prices is just in competition. Regarding the timing of market introduction, a USAID representative stressed that the market should be introduced as soon as possible. “Anyone who says that the market should be postponed is deeply mistaken. The market should be introduced as soon as possible,” the expert is sure.

We recall that the new electric power market, which will operate in accordance with the standards of the European Union (EU), must be introduced on July 1, 2019, in accordance with the Law of Ukraine "On the Electric Power Market". The introduction of the market is a condition for Ukraine’s cooperation with the International Monetary Fund (IMF), according to which our country will receive a $ 2.5 billion loan this year, as well as the provision of EU macro-financial assistance in the amount of 500 million euros.

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