Russian War Against Ukraine: Energy Dimension (daily updating DiXi Group alert)
March 8
Summary
— In February 2023, the absence of electricity deficit led to a revival of economic activity – the National Bank of Ukraine Macroeconomic Review.
— As reported by Ukrenergo, the power system is stable, there has been no capacity deficit for 25 days in a row and it is not forecasted. The seasonal decrease in consumption, the restored operation of some generating capacities, the availability of hydropower resources and the rapid growth of RES made it possible to form a certain capacity reserve, which increases the level of supply reliability and operational safety.
— Despite the war, the full integration of Ukraine’s electricity market into the EU Single Market remains a priority – so the Deputy Minister of Energy Yaroslav Demchenkov. Ukraine looks to further expand opportunities for commercial exchanges of electricity, with exports to support the financial stabilization of Ukraine’s energy market and help the EU to move away from Russian energy resources.
— According to media reports, the Chair of the Supervisory Board of Mahistralni Gazoprovody Ukrainy (parent company of GTSOU) Huberte Bettonville has resigned. In a respective letter, she stated the main reason for resignation being that some members of the Supervisory Board do not want to apply EU standards and principles of corporate governance.
— The Specialized Anti-Corruption Prosecutor’s Office has asked the High Anti-Corruption Court to change the preventive measure for the former CEO of Naftogaz Andrii Kobolyev by increasing the bail to 365 million UAH. The suspect managed to collect and pay approximately half of the 229 million UAH bail set before.
— The NEURC approved draft amendments to unblock the possibility to approve the cost of service to increase the share of electricity production from RES, and published a brief overview of its decisions during martial law.
— The government simplified the procedure for the Chornobyl NPP Exclusion Zone to receive firefighting equipment for 1.1 million EUR as humanitarian aid. Also, it approved the draft Grant Agreement with the Japan International Cooperation Agency (22.44 billion JPY) to implement an emergency recovery program.
— The United Arab Emirates will join the program to exchange incandescent lamps to LED lamps. UAE has offered to supply Ukraine with 5 million such lamps, the first shipment to arrive soon.
