The economic advantage of the Ukrainian power grid synchronization with the European Network of Transmission System Operators for Electricity (ENTSO-E) is estimated at $1.5 billion per year, Prime Minister of Ukraine Denys Shmyhal has said.
“Joining Europe's energy system is a very practical step. Our colleagues from the World Bank estimate that the economic advantage of the Ukrainian power grid synchronization with ENTSO-E totals approximately $1.5 billion a year,” Shmyhal said at the event entitled “Ukraine's integration into ENTSO-E: a step towards energy independence," according to an Ukrinform correspondent.
The prime minister noted that synchronization provides the following main benefits for Ukraine: energy independence and security, de-monopolization of the electricity market, expansion of export opportunities, focus on decarbonization and modernization of infrastructure, development of new technologies.
"Ukraine's disconnection from the energy system of the Russian Federation will lead to the loss of the latter's strategic influence on the electricity sector not only in Ukraine but also in European countries," Shmyhal said.
He added that for Ukraine, synchronization would strengthen the stability of the energy system, the overall technological level of operation and the level of security of energy supply.