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On June 27, 2024, the UWEA participated in the third meeting of the post-mediation dialogue for renewable energy market players, initiated and led by the Energy Community Secretariat (EnCS). The post-mediation process aims to improve market conditions and foster the restoration of trust and dialogue among key renewable energy market players through discussions of current market issues and challenges posed by russia's full-scale invasion of Ukraine.
A key feature of the third meeting was the presentation by the EnCS of the main elements of the Roadmap for the development of Ukraine's renewable energy sector. The Roadmap addresses key issues and challenges currently existing in the renewable energy market that hinder large-scale market development, including debt to renewable energy producers, including those with generating capacities located in temporarily occupied territories; the fair application of the market premium mechanism, including in terms of curtailments; the restoration of market liquidity and solvency, particularly for NPC Ukrenergo; and the harmonization of the Energy Strategy with the National Energy and Climate Plan up to 2030.
Svitlana Grynchuk, Deputy Minister of Energy of Ukraine, stated: “The Energy Strategy indeed needs to be revised because we now have a different energy system with different needs. Renewable energy sources must be an integral part of the renewed energy system. Moreover, the Ministry of Energy of Ukraine has received a mandate from the Prime Minister of Ukraine to finalize the National Action Plan for developing renewable energy sources up to 2030. Its approval is expected shortly.”
Dirk Buschle, Deputy Director of the Energy Community Secretariat, commented: “I do hope that the Action Plan we have developed, or the Roadmap as we call it, will be implemented step by step by all market players. We are not dictating how the electricity market should be regulated, but we are offering our recommendations on how to restore investor confidence, establish cooperation between business and the state, and make Ukraine's investment climate more attractive.”
During the meeting, key market players, including the NEURC, the SE “Guaranteed Buyer” and renewable energy producers were given the floor to present their latest developments and reiterate the critical issues requiring resolution. NEURC, in particular, discussed the current stage of developing the register of guarantees of origin and announced that the GOs mechanism could be operational in Ukraine as early as October 2024. The SE “Guaranteed Buyer” provided updated data on debt payments and the signing of acts with NPC Ukrenergo. Renewable energy producers emphasized that without debt repayment, ensuring project insurance mechanisms, and stimulating international investors to invest in the Ukrainian economy, the development of new generating capacities is at risk.
It is worth reminding that the post-mediation process takes place within the framework of the Memorandum of Understanding on Resolving Problematic Issues in the Renewable Energy Sector of Ukraine, concluded in 2020. The signatories of this Memorandum include the Cabinet of Ministers of Ukraine, the Ministry of Energy of Ukraine, NEURC on the part of the state, and UWEA and EUEA on the part of renewable energy investors in Ukraine.
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