Ukraine, together with international partners, has begun to create a strategic reserve of energy equipment to ensure the stability of the energy system in the event of infrastructure damage during the upcoming winter. The relevant agreements were reached during negotiations in Brussels.
This is reported by Finway
Ukraine, along with international partners, is launching a mechanism to create a strategic reserve of energy equipment, which is intended to serve as insurance for the energy system in case of new damages during the next heating season. Agreements were reached during negotiations in Brussels.
Financial Base and Objectives of the Reserve
As reported by Energy Minister Denys Shmyhal, the Energy Support Fund has already accumulated €197 million. These funds will allow energy companies to purchase and store the necessary equipment in advance, enabling a swift response to restoration efforts in case of emergencies or attacks by the Russian Federation, without lengthy searches or procurement processes.
Preparation for the Next Winter and EU Support
Simultaneously, Ukraine is working on coordinating substantial financial needs for preparing for the upcoming heating period. According to government estimates, €5.4 billion is needed to strengthen energy infrastructure and conduct emergency repairs.
In Brussels, the Ukrainian delegation held consultations with representatives of the European Commission, including Vice President Kaia Kallas, Commissioner for Enlargement Olivér Várhelyi, and Commissioner for Energy Kadri Simson. Negotiations also took place with the governments of other European countries regarding further support for Ukraine’s energy sector.
Currently, two power units of Ukrainian nuclear power plants are under repair, leading to a temporary reduction in electricity production and highlighting the importance of creating a reserve of equipment for the stable operation of the country’s energy system.