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CER round table: Discussion on the impact of war on Ukraine’s economy

05 April 2022, Ukraine
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CER round table: Discussion on the impact of war on Ukraine’s economy
CER round table: Discussion on the impact of war on Ukraine’s economy
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On April 4th, DTEK CEO Maxim Timchenko spoke in London during a round table discussion organized by the Center for European Reform (CER).

The event focused on the damage to the Ukrainian economy and the ongoing efforts to keep it functioning. The panelists considered what is needed to support Ukraine's economic survival and how international partners can assist with post-war recovery.

Mr. Timchenko explained the situation on the ground and how, instead of falling apart, Ukraine’s energy system is integrating with Europe. Clear examples of such processes are synchronization with ENTSO-E and the launch of commercial electricity exports from Ukraine to Europe.

It was also discussed that after Ukraine’s victory, its energy sector will be rebuilt and investment will concentrate on electricity exports, renewables, hydrogen and battery energy storage projects, gas production and new nuclear technologies such as Small Modular Reactors.

Other speakers included:

  • Anders Åslund, Senior Fellow, Stockholm Free World Forum
  • Vadym Prystaiko, Ukraine’s Ambassador to the UK
  • Bob Seely, MP for the Isle of Wight
  • Ambassador Kurt Volker, Distinguished Fellow, Center for European Policy Analysis.

Ian Bond, CER Foreign Policy Director (moderator)

DTEK Group is the largest private investor in Ukraine’s energy sector, with 55,000 employees and over €12 billion of capital invested since 2005.

Our businesses generate electricity at wind, solar and thermal power plants; distribute and supply power to end consumers; extract natural gas and coal; trade energy resources on Ukrainian and foreign markets; and provide domestic and commercial energy services.

Over the last 20 years, DTEK has grown into a national energy leader and is today transforming into a pan-European clean energy business.

Since the full-scale invasion of Ukraine in 2022, DTEK Group has restored power to millions of consumers across regions affected by hostilities.

DTEK Group is 100% owned by SCM Holdings. The ultimate beneficiary and sole shareholder is Rinat Akhmetov, a businessman and philanthropist.