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Ukraine has a chance to become the largest energy storage hub in Eastern Europe

04/ 11/ 2021
  An energy storage system (СНЕ) is a new technology that allows the storage of energy produced and consumed when it is needed, not when it is produced. The need to introduce energy storage systems in the Ukrainian energy sector is long overdue and needs to be regulated. Electricity storage systems are one of the fastest-growing electricity sectors. In 10 years, the sector has grown 48 times with an average annual growth rate of 47%. As forecasted by Bloomberg NEF, the total storage capacity will exceed 1 TW by 2040. The use of industrial storage systems in Ukraine will make the general power supply system more flexible and will allow the use of CHE to balance the energy system (ensuring the same amount of consumption and production of electricity per second). In the future, this system is expected to become an important component of the countrys energy and economic security, as well as to increase the reliability of electricity supply and compliance of energy infrastructure with market needs. The development of these systems will also contribute to the connection of Ukraines energy system to the European energy network ENTSO-E. In case the initiatives on the СНЕ implementation gain general support and the technology receives a clear legal definition, Ukraine has a chance to become the largest energy storage hub in Eastern Europe and attract significant foreign investment. However, as of today, Ukrainian legislation does not regulate the activities of the СНЕ. At the same time, the market is dominated by the United States, followed by Asia, Australia, and Europe. The Peoples Deputies of Ukraine – members of the Verkhovna Rada Committee on Energy and Utilities prepared draft Law №5436-d which aims at bringing Ukrainian legislation in line with the provisions of the relevant EU Directive. The European Business Association considers this draft law to be a positive step for the Ukrainian energy sector as it establishes basic rules for regulating electricity storage and, if adopted, will provide an impetus for the development of a comprehensive energy storage system. At the same time, it should be noted that draft Law №5436-d has already been included in the agenda of the Verkhovna Rada five times (September 23 and 24, 2021, October 6, 2021, October 21 and 22, 2021). However, it was never brought for further consideration. Accordingly, the business community has questions regarding the political will to adopt this document. Therefore, the European Business Association calls on MPs to include draft law № 5436-d in the next agenda of the VI session of the Verkhovna Rada to adopt it in the first reading.   Be the first to learn about the latest EBA news with our Telegram-channel – EBAUkraine.

An energy storage system (СНЕ) is a new technology that allows the storage of energy produced and consumed when it is needed, not when it is produced.

The need to introduce energy storage systems in the Ukrainian energy sector is long overdue and needs to be regulated.

Electricity storage systems are one of the fastest-growing electricity sectors. In 10 years, the sector has grown 48 times with an average annual growth rate of 47%. As forecasted by Bloomberg NEF, the total storage capacity will exceed 1 TW by 2040.

The use of industrial storage systems in Ukraine will make the general power supply system more flexible and will allow the use of CHE to balance the energy system (ensuring the same amount of consumption and production of electricity per second).

In the future, this system is expected to become an important component of the country’s energy and economic security, as well as to increase the reliability of electricity supply and compliance of energy infrastructure with market needs. The development of these systems will also contribute to the connection of Ukraine’s energy system to the European energy network ENTSO-E.

In case the initiatives on the СНЕ implementation gain general support and the technology receives a clear legal definition, Ukraine has a chance to become the largest energy storage hub in Eastern Europe and attract significant foreign investment.

However, as of today, Ukrainian legislation does not regulate the activities of the СНЕ. At the same time, the market is dominated by the United States, followed by Asia, Australia, and Europe.

The People’s Deputies of Ukraine – members of the Verkhovna Rada Committee on Energy and Utilities prepared draft Law №5436-d which aims at bringing Ukrainian legislation in line with the provisions of the relevant EU Directive.

The European Business Association considers this draft law to be a positive step for the Ukrainian energy sector as it establishes basic rules for regulating electricity storage and, if adopted, will provide an impetus for the development of a comprehensive energy storage system.

At the same time, it should be noted that draft Law №5436-d has already been included in the agenda of the Verkhovna Rada five times (September 23 and 24, 2021, October 6, 2021, October 21 and 22, 2021). However, it was never brought for further consideration. Accordingly, the business community has questions regarding the political will to adopt this document.

Therefore, the European Business Association calls on MPs to include draft law № 5436-d in the next agenda of the VI session of the Verkhovna Rada to adopt it in the first reading.

 

Be the first to learn about the latest EBA news with our Telegram-channel EBAUkraine.

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