Ukraine expects to earn billions of euros from electricity exports to Europe
- Ukraine expects to earn 1.5 billion euros from electricity exports to the European Union by the end of the year, with the potential to earn even more in the future after getting the right to export its energy there, according to a Ukrainian energy ministry expert.
- After Russia annexed Crimea in 2014, the former Soviet Ukraine’s energy grid began planning to decouple itself from the Russian and Belarusian grids.
- When Russia invaded Ukraine in February, it was testing the system’s autonomy, prompting Kyiv to disconnect 2.5 years sooner than intended.
Ukraine expects to earn 1.5 billion euros from electricity exports to the European Union by the end of the year, with the potential to earn even more in the future after getting the right to export its energy there, according to a Ukrainian energy ministry expert.
After Russia annexed Crimea in 2014, the former Soviet Ukraine’s energy grid began planning to decouple itself from the Russian and Belarusian grids. When Russia invaded Ukraine in February, it was testing the system’s autonomy, prompting Kyiv to disconnect 2.5 years sooner than intended.
Ukraine filed in March to join the European energy system ENTSO-E as soon as possible, and Ukrenergo said on Tuesday that it has been granted the authority to export its electricity to Europe.
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In an interview with the Suspilne public television channel, Lana Zerkal, an adviser to the energy minister, said that all of Ukraine’s required lines are ready to export electricity to Romania, Hungary, Slovakia, and Poland.
“Under normal circumstances, we would be able to generate roughly 1.5 billion euros by the end of the year,” she said, adding that Ukraine’s system was in sync with the European Union’s.
“We began in March, and now the EU is providing us with the technical means to begin commercial flows and profit from them. We value the fact that, despite the conflict, we were able to complete the project 2.5 years ahead of schedule “she stated Reporting by Natalia Zinets; writing by Tom Balmforth Editing by Alistair Bell
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