Ukraine will be fully integrated into the EU energy market in 2027, even if we are not yet formally a member of the Union, said Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Taras Kachka, according to a correspondent from Interfax-Ukraine.
“There is currently a large bill in parliament—several hundred pages on the final integration of Ukraine’s energy market with the EU. It is ready for its second reading, and I think we will be able to adopt it in February,” he said at the Ukrainian Breakfast in Davos on the sidelines of the World Economic Forum on Thursday, organized by the Victor Pinchuk Foundation.
According to Kachka, the document consists of hundreds of pages of technical assessments that experts have been working on for years.
“It is thanks to this work that in 2027 we will be fully integrated into the EU energy market, even if we are not yet formally a member of the Union,” the Deputy Prime Minister emphasized.
As reported, on July 22, the Verkhovna Rada adopted draft law No. 12087-d “On Amendments to Certain Laws of Ukraine Regarding the Implementation of European Law on Energy Market Integration, Improving Security of Supply and Competitiveness in the Energy Sector.” According to the Ministry of Energy, the relevant legislative proposal was developed on the basis of nine EU energy legislation acts and aims to create the necessary legislative framework for the full integration of Ukraine’s electricity market into the single European market on the principle of reciprocity.
The document provides, in particular, for the integration of the short-term (spot) electricity markets of Ukraine and the EU (market coupling) and balancing markets, which means increasing market liquidity, simplifying the conditions for trading electricity with the EU, making effective use of the transmission capacity of interconnections between countries, increasing the flexibility of the energy system, and providing access to EU reserves.
The draft law also provides for additional mechanisms to protect consumer rights and strengthen their role in the market by increasing the transparency of supply conditions and introducing tools for comparing suppliers’ offers, as well as creating conditions for consumers to participate in other market segments, in particular the ancillary services market.
The ministry noted that the adoption of the document as a whole will ensure the synchronization of electricity markets in early 2027.
