The benefits of integrating Ukraine’s energy markets with those of the EU will greatly outweigh the costs of European energy integration.

Vitaliy Zaychenko, chairman of the board of Ukrenergo, believes that Ukraine’s integration into the EU electricity market will yield benefits that far surpass the financial resources that are required. He noted that following the adoption of draft legislation on integrating Ukraine and the EU energy markets, efforts to develop numerous supporting laws and regulatory documents will continue. These efforts are already underway by Ukrenergo and will be followed by an even more complex phase: implementing what has been accomplished.

Meanwhile, D.Trading, an energy trading company, pointed out that draft law approved in the first reading marks a decisive step toward synchronizing the Ukrainian and European electricity markets. This alignment will boost competition and create new opportunities for energy traders. However, the main risk in implementing draft law involves the substantial amount of secondary legislation needed to ensure the market functions according to EU standards. Once the market opens, increased competition among producers and suppliers is expected to benefit Ukrainian electricity consumers.