Latest market news as of February 24, 2023

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✉️ Regarding the new formula of imbalances

On February 21, the EUEA together with industry associations sent a letter and proposals regarding the new imbalance formula to NEURC, NPC "Ukrenergo" and SE "Guaranteed Buyer".

The letter and formula proposal were previously sent to your email inbox.


✔️ EUEA received a response letter from the Ministry of Energy regarding the reservation of conscripts and critical infrastructure

A letter with an explanation of the Procedure and process for determining an enterprise critically important for the functioning of the economy and ensuring the livelihood of the population in a special period is attached.


📌 Results of the working meeting with NPC, NEURC and GB

RESAssociations legal advisers held a working meeting with representatives of NEURC, NPC and the Guaranteed Buyer. During the meeting, were discussed the application of regulatory acts of the NEURC in terms of the responsibility of RES producers for imbalances, taking into account the judgment of the Supreme Court dated September 8, 2022 in case №640/4069/21. The representatives of  NEURC said the position that the Regulator currently has no reason to create a mechanism for compensating RES producers for damage caused by the decision, which was recognized by the court as illegal and invalid. In addition, a proposal to find compromises in the future formula of imbalances was voiced, the consideration of which should take place at the site of the NEURC in the near future. RES associations will continue their work to resolve the issue of compensation for damages to RES producers.


👥 In order to attract investors to Ukraine, it is necessary to launch war risk insurance mechanisms, - Yulia Svyrydenko in Brussels

"We have made progress with the Multilateral Investment Guarantee Agency MIGA, which has provided an indicative proposal for a pilot project to insure military-political risks through equity capital. However, they stopped processing applications due to the lack of reinsurance opportunities," explained Yuliya Svyridenko. Although MIGA products can cover risks for international investors, this mechanism is not available for Ukrainian companies.  Details.


💲 BlackRock and J.P. Morgan help Ukraine prepare a new instrument for investors

Ukraine is working with BlackRock and J.P. Morgan to form a development bank or fund. The new entity will become the first investment driver for the first projects and help open Ukraine to worldwide businesses, said Deputy Head of the Office of President Rostyslav Shurma. Resource.


👉🏻The Verkhovna Rada adopted the Law "On the peculiarities of the formation of JSK NNEGC ENERGOATOM"

237 People's Deputies voted for the corresponding bill No. 8067. The law provides for the definition of the procedure for the creation of the joint-stock company NNEG Energoatom, 100% of whose shares belong to the state, the establishment of the procedure for the formation of the authorized capital of the company, as well as its functioning after its creation. Джерело.


♻️Ukraine will be ready to participate in the trading of CO2 emission quotas and can start it already in 2024-2025.

"Ukraine can enter quota trading as early as 2024-2025. The issue is not on hold. In 2023, we have already signed an agreement with the Swiss Confederation, signed a corresponding memorandum with Japan, and negotiations are currently underway with many other countries regarding the conclusion of agreements directly related to the trading of quotas under Article 6 of the Paris Agreement," said Minister of Environmental Protection and Natural Resources Ruslan Strilets. Details.


⚡️ A Kyiv multi-storey apartment building has installed solar panels on the roof

Residents of the Kyiv apartment building - "Khudozhnyk", carried out a set of energy-efficient measures, including the installation of solar panels on the roof. A number of energy-efficient works were carried out in the residential building within the framework of the city program "70/30%", which applies to condominiums. According to the terms of the program, 70% of the cost of the works is paid by the city, and 30% is collected and invested by residents. Details.


🔥 EUEA invites to the round table "The future of energy storage systems (ESS) in Ukraine" - March 2, 2023

During the round table, will be discussed: the state of ESS legal framework development, and what changes/additions the current legislation needs; the needs of the IPS of Ukraine in ESS, and the possible impact on the infrastructure as a whole; modern technologies and capacities, best international practices of system implementation. The experience of establishing ESS in Ukraine. ESS as an investment priority in the energy sector of Ukraine.

The event will be held with the participation of:

- Oleh Zahnitko, INTEGRITES;
- Ihor Petryk, Wärtsilä;
- Representative of "Ukrenergo" (invited);
- Vadym Utkin, DTEK.

Pre-registration is required.


👉🏻 Ukrainian government proposes new RES legislation, following industry’s open letter – CEENERGYNEWS

Following the Ukrainian Cabinet of Ministers’ approval of two new proposals related to the country’s regulatory framework for RES, the draft laws have now been registered by the Ukrainian parliament.
The latest legislative developments will positively impact Ukraine’s RES investment landscape, according to the Director of EUEA Kateryna Polyakova.
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Sincerely,

EUEA Team
Dorogozhytska str., 3, UNIT City, building B9, office 5, Kyiv, Ukraine
Mobile (WhatsApp): +38 091 331 0010

mailto: office@euea-energyagency.org   

Established in November 2009, European-Ukrainian Energy Agency (EUEA) has grown into an effective advocate for the realization of Ukraine’s massive renewable energy and energy efficiency potential, by working within Ukraine’s business community, government structures, and with other key energy market stakeholders.

EUEAMembers: 

Acciona, Beycelik-Elawan Renewable Energy LLС, CES, DTEK Renewables, EMERGY AS, EMSOLT, Electrum, Elementum Energy, Eurocape Ukraine, Fichtner, GOLAW, Guris, Green Genius, Green Future, GrECo Ukraine, GSE&C, iC consulenten, IMEPOWER, Indian Solar, Investment Fund for Developing Countries, Irshanska SES, Khmelnytsky Bio Power Plant, Scatec Solar, Schneider Electric Ukraine, Sfera, Sumitomo, SPP Development Ukraine, Thermosystems, TIU Canada, Ukrwindinvestments.


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