Moldova and Ukraine to Be Fully Connected to the EU Energy Market by 2027
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The European Commission has presented Ukraine with a new support package for integration into the EU energy market, which also includes Moldova. The package envisages full interconnection of energy markets by 2027.
On Monday, the European Commission offered Ukraine a new package of support to ensure the security of its energy system and full integration into the European energy market, eurointegration.com.ua reports.
This package will allow for full integration of Ukraine’s electricity market with the EU by early 2027, together with Moldova, as well as further integration into the EU gas sector, provided that Ukraine significantly accelerates the necessary market reforms.
It will also increase security of supply in Ukraine and the region, as the commission will help with the necessary gas purchases.
“Ukraine’s full integration into the EU energy market will be part of the overall security guarantees that the EU can provide, as well as an effective precondition for recovery, as energy security is a key factor for investment flows into the country,” the European Commission said.
The package proposed in Kyiv on Monday consists of the following points:
- It will facilitate the integration of the Ukrainian electricity market with the EU until spring 2027 together with Moldova, as well as further integration into the EU gas sector.
- The Commission will assist in financing gas purchases. This will result in sufficient gas reserves to ensure security of supply, which will benefit both Ukraine and the region.
- The package of measures will accelerate investment in renewable energy, which will create up to 1.5 GW of generating capacity. This is about 25% more of Ukraine’s total renewable energy capacity.