** Check against delivery **

 

Honorable Prime Minister Shmyhal,

Minister Galuschenko,

Ladies and gentlemen, good afternoon.

Thank you very much for inviting me to speak with you today. Like the European Union, Ukraine is on a path toward a transformation of its energy system and I fully support your work for closer integration with the EU.

Ahead of tomorrow’ Summit between the EU and Ukraine, today’s conference is very welcomed and show the dedication of all parties to ensure work is done thoroughly at technical level but also supported politically at the highest level.  

A few weeks ago, in Brussels, Minister Galushchenko and I had the opportunity to have a good conversation. We confirmed that one of the primary objectives of EU-Ukraine cooperation on energy is the full integration of the Ukrainian energy market to the EU. And that includes synchronising your electricity network with the Continental Europe Network.

That’s the destination we strongly support. Now, how do we get there?

There are two areas standing out that will advance the cause. And I want to speak about both today.

The first is technical and infrastructure requirements.

The second is the implementation of the necessary regulatory, legal and market pre-conditions.

With our Ukrainian counterparts, we are looking into both.

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So first, on the technical requirements. Recent close contact with ENTSO-E confirms that the outlook appears to be positive at this stage.

The majority of the concerns surrounding grid stability have essentially been removed. This is a very good news and open the way for the test for isolated mode of operation of the Ukrainian [and Moldovan] networks. ENTSO-E representatives will be in a position to expand on the topic.

I know that it is currently set to be performed next year, provided that the Regional Group of Continental Europe confirms the timeline at its November meeting.

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Second, I want to talk about the regulatory work and the related implementation and enforcement measures.

Governance and the independence of the regulated entities are without a doubt the most important aspect.

With that in mind, we consider essential the finalization of the certification of Ukrenergo.

There are important aspects to solve in order to move forward in the synchronization. Work on the governance around the TSO is being carried out with the Energy Community Secretariat in that respect.

Beyond the governance aspects, improving the transparency of the electricity market is also an important goal. As part of that, I include the proper transposition and implementation of REMIT in the Ukraine legislation. As this process it is still ongoing as we speak, I hope that it can be swiftly finalized in a way which is fully compatible with the EU.

 

Ladies and gentlemen,

Looking to the future, and to a time when the completion of the synchronization is a firm reality, Ukraine should also ensure at least the same level of cross-border capacities that are now currently available. This will be important for the future integration of the Ukrainian electricity market into the EU’s own internal electricity market.

Finally, I want to reassure you about our support from the Commission.  

This is an important project. One that will be mutually beneficial. I welcome Ukraine’s engagement and willingness to ensure this project is a success. So let’s help each other to ensure the project moves timely. Because to make this a success, all technical, infrastructure and regulatory pre-conditions must be put in place.

Thank you for the opportunity to say a few word today and I wish you a good conference.