Low energy efficiency costs Ukraine $1.5 billion a year — “equal to one IMF tranche

Low energy efficiency costs Ukraine $1.5 billion a year — “equal to one IMF tranche,” Oleksandr Chernykh, a Economic Development and Trade Ministry official tells an energy forum in Kyiv. Due to inefficiency, Ukrainian industries generally use more electricity than their counterparts in colder areas, like Scandinavia and Canada. GIZ, the Germany aid agency, has received applications from 100 companies seeking to take advantage of its new program of free energy audits.