Business news from Ukraine

UKRAINE SHOULD OPEN MARKET TO ATTRACT INVESTMENT IN ENERGY – EUROPEAN EXPERT

25 May , 2016  

BRUSSELS. May 25 (Interfax-Ukraine) – Ukraine should continue and complete reforms in the energy sector that would indeed open the market for investors, an employee of the Directorate-General for Energy of the European Commission Hans Rhein said during an international expert discussion of the electricity market development in Ukraine on Tuesday in Brussels.

He said that despite the adoption of relevant legislation on the natural gas market in Ukraine, the European Commission still receives claims about the dominant position of national joint-stock company Naftogaz Ukrainy on the market.

“The important issue is the opening of the market… We do not see large investors in Ukraine. I hope they would come soon,” the expert said.

He welcomed the results of reforms in the Ukrainian energy sector conducted in the past two years. He said that they should continue and be finished, in particular, in part of legislative and implementing processes.

Former Director of the Ukrainian Energy and Coal Industry Ministry’s Planning and European Integration Department Mykhailo Bno-Airiian said that the government’s strategy for setting special prices in the energy sector to ensure investment inflow is a mistake.

“The market should provide for free and fair rights, while prices should be market prices. No one should control prices,” the expert said.

He believes that the new government must continue reforms started by the previous government.