The 12th Ukrainian Energy Forum of the Adam Smith Conferences Ukraine began on July 14, 2021 with a welcoming speech of the Prime Minister of Ukraine Denys Shmygal and the Minister of Energy of Ukraine Herman Glushchenko, who described the general state of Ukraine’s energy system.

In particular, the Prime Minister stressed that the current system of the energy sector needs immediate reformation. “In order to achieve our energy purpuses, we must work together to create and implement a new effective model in Ukrainian energy sector”,- he said. The Minister of Energy, in his turn, outlined the main goals of the energy sector, among which he mentioned: energy security, integration with European markets, development of Ukrainian energy sector in compliance with the objectives of the European Green Deal and synchronization with ENTSO-E.

Director of the European-Ukrainian Energy Agency (EUEA) Oleksandra Gumeniuk took part in the conference as the speaker of the fourth session. The fourth session, “The Birth of the Hydrogen Economy: Devlopment of a  Plan to Ensure Investment in Innovation” discussed the following issues: developing a roadmap for hydrogen production, transportation, and hydrogen use in Ukraine; the place of hydrogen in the European Green Deal; regulatory and economic base for incentives, infrastructure upgrades and ongoing pilot projects.

In particular, Mrs. Oleksandra dedicated her report to the expectations of investors on the hydrogen sector development in Ukraine:

“ If Ukraine is interested in Green Hydrogen – let renewable energy develop !

Uniting the biggest investors in renewable energy I cannot proudly say, that Government of Ukraine treats investors well: retroactive reduction of the FIT, new tax duties initiated, old and new debts to RES producers, gaps in regulatory with curtailments and fines, new support mechanism of auctions implementation is almost 2 years delayed.

So if Ukraine is interested in Green Hydrogen – treat investors well and let the rule of law work.

And the third one – let the business environment be predictable with the long-term strategy, targets in harmonization with other economic sectors, due to need of the energy sources generation.

As our members say, Ukraine as the state has to compete with other economies on stable environment available to generate the green hydrogen. The winner of this competition will propose transparent policy shaping, absence of corruption, equal opportunities for all business initiatives. This what Ukraine has to work in.

Usually when we have members meetings on hydrogen, all discussions are usually circulated around what will be the cost of the production, what will be the market price, who will buy this energy. And these discussions are turning us to maturity and transparency of electricity market from one side, and from another side the energy intensity of Ukrainian Economy, which is twice higher than in developed countries. It is obvious that, before installation of the new equipment in industry/municipalities to use hydrogen as the energy resource, the energy intensity has to be reduced – and again we are back to energy efficiency.

As the conclusion, the task of the European-Ukrainian Energy Agency’s is to advocate and monitor long term strategy with the comprehensive view of the Ukrainian economy development, energy efficiency programs adoption and implementation, electricity market development and renewable energy deployment with the first priority of crises solvency.

I call the business community to unite and together advocate the green hydrogen perspectives become reasonably realistic. European-Ukrainian Energy Agency is open to all market stakeholder!

Let’s make Ukraine smartly green and not late with the right time of opportunities!”