Page 10 - UKRRptJul24

June 1 the Russians have begun to strike Ukrainian solar power plants and destroyed the distribution equipment at several large solar power plants, UBN reports.
In an effort to mitigate the impact of ongoing missile attacks, the Ministry of Economy is working with partners from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) to secure funds through the Ukraine Facility to restore the energy sector.
Prime Minister Denys Shmyhal announced that the EBRD will provide €300mn to restore energy infrastructure and construct new decentralised generation facilities. This forms part of a broader initiative, with the EBRD having committed €4bn to Ukraine since the start of the full-scale Russian invasion. "This support will help to fulfil our goal – to ensure a stable and uninterrupted electricity supply to the entire territory of Ukraine," Shmyhal stated. He also noted that the long-term consequences of Russian attacks on energy infrastructure would necessitate electricity conservation measures for years to come.
In addition to international support, Ukraine has increased consumer electricity tariffs to generate additional revenue for state energy companies Energoatom and Ukrhydroenergo. Analysts estimate that the increase will yield an extra UAH50bn ($1.2bn) in 2024. Energoatom plans to use these funds to reduce its obligatory consumer price subsidies and increase profit, while Ukrhydroenergo will direct the additional revenue towards restoring damaged hydroelectric plants and constructing new nuclear power units.
The government raised the consumer electricity price to UAH4.32 ($.11) per kWh, a necessary move to restore the damaged state power generation network. For comparison, the average household electricity tariff in the EU at the end of 2023 was €0.2226 per kWh, or UAH9.39.
Meanwhile, Ukraine’s Energy Ministry has disputed the claims made in the June 5 FT article about the extent of the damage to Ukraine’s energy infrastructure, accusing the FT of aiming to "spread fear and panic" among the population and pandering to Russian propaganda points.
10 UKRAINE Country Report July 2024 www.intellinews.com