The reform of the electricity sector in Ukraine is more important that the transformation of the gas sector, European Commission Vice-President Maroš Šefčovič said on 22 June at a conference in Brussels entitled “Electricity Sector Reform in Ukraine – Combining the Energy Transition & European Market Integration”.

In his speech, Vice-President Šefčovič pointed out the importance of establishing an independent regulator for the electricity market (the National Commission for Regulation of Energy, Housing and Utilities Services) and completing the corporate governance reform at national energy company Ukrenergo.

In addition, the vice-president mentioned the provision of competitive and transparent conditions within the wholesale and retail electricity markets, and the importance of investing in the increase more reliable and higher quality power lines (including in the context of integration into the European Network of Transmission System Operators).

Vice-President Šefčovič also underlined that one of the strategic goals of the EU and Ukraine is to boost the share of sustainable energy in the balance of energy.

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The EU is assisting Ukraine, as well as other Eastern Partners countries, to promote energy reforms under the EU4Energy initiative. EU4Energy covers all EU support to improve energy supply, security and connectivity, as well as to promote energy efficiency and the use of renewables in the Eastern Partner countries (Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova and Ukraine). It does this by financing projects and programmes that help to reform energy markets and to reduce national energy dependence and consumption. Over the long term, this makes energy supply more reliable, transparent and affordable, thus reducing energy poverty and energy bills for both citizens and the private sector.

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Speech from European Commission Vice-President Maroš Šefčovič

EU4Energy initiative