DTEK: ways of overcoming current crisis in the energy sector

The energy sector needs quick and effective solutions, as well as the involvement of all market players to overcome the current crisis and maintain the possibility Ukraine’s energy system integration into European energy sector. As stated by the CEO of DTEK Maxim Timchenko during a press-conference “Energy of Ukraine: Current Problems, Global Challenges and Solutions”.

Balancing the situation requires joint efforts of all market players and comprehensive measures to

• to ensure the maximum supply of electricity from the NPPs,
• to increase operational reliability of thermal generation in general by additionally importing 1 million tons of coal and allowing the use of natural gas as a reserve fuel in the amount of 1.2-1.5 billion cubic meters,
• exclude administrative interference by the regulator into the market functioning.
• pursue a consistent policy of tariff liberalization, while paying attention to the need for balanced social support for consumers.

Market liberalization will allow Ukraine to realize its potential in the development of new energy and become the leader in decarbonizing the economy of the region.

“It is important to synchronize the development of the Ukrainian energy sector with the global demand of society, which determines the new energy transition. It is based on the need for clean, efficient, competitive energy. The key to Ukraine's ability to meet this demand is industry reform, which has not yet been completed. Refusal to completely switch to the European model of the electricity market operation leads to chronic crises in the industry and creates a threat to the European integration of Ukraine. All industry players need to unite their efforts in order to prevent the worst-case scenario for the heating season in the short term, and work out a long-term strategy for the development of the Ukrainian energy sector, taking into account global climate challenges,” said Maxim Timchenko, CEO of DTEK.