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DUSTING OFF UKRAINE'S ENERGY SECTOR

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Dusting off Ukraine's energy sector

24, pdf
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Dusting off Ukraine's energy sector



Publisher: CEE Bankwatch Network

Date: September, 2014

Volume: 24 pages, pdf

Description

Ukraine’s energy sector faces unprecedented challenges, from a reliance on expensive fossilfuel imports to inefficient infrastructure and markets. But rather than viewing this as a vulnerability, Ukraine’s energy sector is potentially a low-hanging fruit for reform. The current diplomatic crisis with Russia and the removal of politicians engaged in corrupting the sector may finally induce the political will to implement long-overdue reforms. Much of the country’s electricity is wasted, with energy efficiency levels far below European standards. The amount of energy spent in Ukraine to produce one dollar of gross domestic product (GDP) is three times than the EU-average, while carbon dioxide emissions per unit of GDP are the highest in Europe. Despite these losses, coal power plants are still able to sell electricity at very low prices due to the country's state aid regime.