Energy Community creates a centre for energy market monitoring in Ukraine

Energy Community launched the Ukraine Energy Market Observatory, reported Ukrinform with reference to the press release of the international organization.

“In an effort to streamline and consolidate its monitoring functions under the Energy Community Treaty with regard to Ukraine, the Energy Community’s largest member currently suffering from a war of aggression by the Russian Federation, the Secretariat created the Ukraine Energy Market Observatory. The Observatory will closely follow and review all developments related to the energy market and corporate governance in Ukraine. In full respect of confidentiality requirements, the assessments will be published and made available to domestic and international stakeholders involved,” the press release reads.

The Energy Community is confident that this will support the further integration of the Ukrainian energy sector with Europe and help building trust in a predictable and transparent governance in line with European practices.

The Energy Community is an international organisation which brings together the European Union and its neighbours. The key objective of the Energy Community is to extend the EU internal energy market rules and principles to countries in South East Europe, the Black Sea region and beyond on the basis of a legally binding framework. Member countries undertake to create legislative base in the energy sector in accordance with the Acquis communautaire and liberalize their energy markets.

Previously, Ukrinform reported that Fuel and Energy Minister Herman Hlushchenko stated in mid-December that Ukraine received 840 tonnes of equipment and supplies for repairs and restoration of the energy sector with the assistance of the Energy Community.

Ukrinform