Energy and Coal Industry Ministry of Ukraine Volodymyr Demchyshyn has announced he plans to fight the monopoly in the energy sector, while speaking in parliament on Friday.

He said that large funds are required to modernize the energy sector. The funds could be raised after the monopoly has been removed from the market.

"We all know the state of infrastructure. It should be upgraded. This could be done raising large funds. The funds could be raised when there are transparent rules, there are no monopolists who would infringe new players, and the possibility of earning money and compensating investment to upgrade the infrastructure will be clear," the minister said.

"All efforts the ministry is taking are aimed at fighting monopoly and forming competitive conditions," Demchyshyn said.

He said that DTEK energy holding extracts over 14 million tonnes of gas coal every year, occupying around 70% of the market. DTEK also occupies 75-80% of the heat generation market.

He added that the Ukrainian electricity market has its price formation and restrictions, and this should be taken into account.