Shmyhal: Economic advantage of synchronization with ENTSO-E estimated at $1.5B a year

Shmyhal: Economic advantage of synchronization with ENTSO-E estimated at $1.5B a year

Ukrinform
The economic advantage of the Ukrainian power grid synchronization with the European Network of Transmission System Operators for Electricity (ENTSO-E) is estimated at $1.5 billion per year, Prime Minister of Ukraine Denys Shmyhal has said.

“Joining Europe's energy system is a very practical step. Our colleagues from the World Bank estimate that the economic advantage of the Ukrainian power grid synchronization with ENTSO-E totals approximately $1.5 billion a year,” Shmyhal said at the event entitled “Ukraine's integration into ENTSO-E: a step towards energy independence," according to an Ukrinform correspondent.

The prime minister noted that synchronization provides the following main benefits for Ukraine: energy independence and security, de-monopolization of the electricity market, expansion of export opportunities, focus on decarbonization and modernization of infrastructure, development of new technologies.

"Ukraine's disconnection from the energy system of the Russian Federation will lead to the loss of the latter's strategic influence on the electricity sector not only in Ukraine but also in European countries," Shmyhal said.

He added that for Ukraine, synchronization would strengthen the stability of the energy system, the overall technological level of operation and the level of security of energy supply.

iy


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2021 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-