27 Jul 2022 10:18

EU might double electricity imports from Ukraine

BRUSSELS. July 27 (Interfax) - The European Union might double imports of electricity from Ukraine as early as this week, European Commissioner for Energy Kadri Simson said.

If commercial trade in electricity will help Ukraine offset some revenue losses, then this is the way forward, Simson said on the sidelines of an extraordinary meeting of the EU Council on energy issues. There is no need to wait for any technical conditions in order to start trading, trading is already underway, she added.

The Ukrainian and Moldovan power transmission grids were synchronized with the European grid in record time, she recalled.

Simson said she will continue to support the next step - full-fledged trading of electricity with Ukraine. The first commercial cross-border exchange of electricity began at the end of June with Romania and in July with Slovakia. Trading capacity now amounts to 1,500 MW.

European grid operators are meeting this week and will discuss doubling this amount, Simson said.

By doing this, the EU will also be able to offset some power production in EU countries that is supposed to be generated using gas, likely gas from Russia, she said.

This is mutually beneficial, but cooperation between the EU and Ukraine in the future will not only be about electricity and gas, Simson said. One can expect that they will soon be ready to announce future cooperation in the area of clean, renewable energy, she said. This is a market that will develop in Europe and Ukraine has the potential to become a trade partner in the coming years, she said.

Simson also said that the high level group on the integration of Ukraine-EU energy markets will resume its work in September, accelerating the necessary reforms.

She also noted that Ukraine has the largest gas storage facilities in Europe, and said it is in both parties' interest to use them to secure supplies.

Ukrainian Energy Minister Herman Halushchenko said that Ukraine's gas transport system could guarantee gas supplies at the level that is transported to Europe through the Nord Stream pipeline.

He also said that Ukraine could technically increase electricity exports to Europe from the current 100 MW to 1,500-1,700 MW, which could replace up to 5 billion-6 billion cubic meters of gas.