Thursday 24 March marked one month of Ukraine’s heroic resistance to russian aggression. Our entire country, economy and industry are all now on a military footing.

Ukraine’s energy security was the theme of DTEK CEO Maxim Timchenko’s weekly online briefing, attended by representatives of more than 45 media outlets from the EU and other countries, as well as international stakeholders.

The key messages from Mr Timchenko’s briefing were:

  1. International support to restrict russia’s economy
  • No one expected Ukraine to demonstrate the heroism it has, least of all russia. However, Ukrainians have shown the whole world that we want to live in an independent country and that we are ready, able and willing to fight for European and democratic values.
  • Greater support from the international community is required to stop another preventable nuclear disaster, and to bring the victory of Ukraine closer.  russia is still receiving money from the sale of oil and gas, providing the funds for its military forces to continue deliberately killing the civilian population, using terrorist tactics. Every dollar paid to russia leads to new casualties and destruction.
  • DTEK Group, NJSC Naftogaz of Ukraine and NPC Ukrenergo have all called on the international business community to stop buying russian energy resources and to stop providing the components and technologies they need. “On behalf of hundreds of thousands of workers in the fuel and energy complex, we urge you to stop supporting the russian economy until this country stops the barbaric war against Ukraine,” they said. A country that deliberately drops bombs on orphanages surrenders the right use the technical and intellectual achievements of the civilized world.
  • There is a website listing the international companies still working with the russian energy sector.
  1. Further synchronisation with the EU market to generate much-needed revenue
  • The synchronisation of the Ukrainian energy system with the European one has been named a historical event. On 24 February, four hours before the start of the war, Ukraine disconnected from the energy systems of russia and belarus, in line with the technical protocol.
  • Synchronisation with ENTSO-E allows is us to increase the capacity of the networks between Ukraine and Europe to 2 GW. Therefore, the next logical step is economic synchronisation and the creation of the right conditions for Ukrainian electricity to be traded with Europe.
  • Ukraine's electricity consumption has fallen by 30%-35% because of the war, and revenue collection has dropped by more than 65%. However, our production has not dropped significantly. Therefore, Ukraine can and should sell electricity in the EU, providing vital income for Ukraine and the power Europe needs.
  • This trade will help mitigate the looming financial crisis cause by the russian invasion.  The Ukrainian energy sector needs around $250-300m of financing per month to maintain supplies for consumers. And operators must continue to source fuel for power generation and carry out repairs to damaged assets.
  • Electricity exports would bring financial support, provided there is no further destruction of assets and Ukraine can maintain coal and gas supplies.
  1. Approaching energy independence
  • Before the war, Ukraine set the aim of a gas production increase to 25 bcm over the next 5-10 years. Our current goal is absolute gas independence from russia within the next two to three years.
  • Since the start of russian invasion, the demand on Ukraine’s gas market has been met by domestic production (45%), UGS (45%) and imports (10%). The plans to fully meet the market demand with the gas produced in Ukraine only is very realistic.
  • Last month was the most difficult for the Ukrainian energy sector in the history of Ukraine's independence. We have never seen such destruction of energy infrastructure, seizures, and shelling of nuclear power plants. Every day, Ukrainian energy companies contribute to restoring the infrastructure, ensuring a stable electricity supply and delivering energy security in Ukraine.
  • Today, more than 1,300 cities, towns and villages, with the total population of approximately 1,500,000 residents, are currently deprived of electricity. The DTEK emergency crews have been working continuously for 30 days to rapidly restore power to the settlements affected by the military combat. Since the start of russian hostilities, DTEK emergency crews have restored power supply to over 460,000 households.  
  • Mariupol, with the population of almost half a million people, is one city that has suffered the most from the russian aggression. It has had no power supply for 23 days because the grids have been severely damaged by the constant russian shelling. putin's plan for a rapid victory over Ukraine have failed, and now it looks like he’s taken Mariupol hostage, with half-million people on the edge of a humanitarian catastrophe.