13:53 30.06.2016

U.S. supports privatization, reforms in Ukraine's energy sector

2 min read
U.S. supports privatization, reforms in Ukraine's energy sector

Ukraine needs to continue the reform of the energy sector, in particular, the privatization of energy companies, in order to improve the efficiency of this sector and actively fight corruption, U.S. Ambassador to Ukraine Geoffrey Pyatt has said.

Speaking at the Ukrainian energy conference dedicated to the privatization of energy companies in Kyiv on Thursday, Pyatt said that privatization should be aimed not at getting as much money as possible, but at increasing energy efficiency, combating corruption and avoiding manipulations by various political groups.

The ambassador recalled that in the absence of reforms in the energy sector a number of people in Ukraine have become extremely rich. Pyatt said they are manipulating the Ukrainian politics through their representatives in parliament and would be happy to leave everything as it is.

He said the corrupt Ukrainian energy sector was also used by Russia to influence Ukraine.

This sector needs to be reformed further, and it is important that the reforms should become irreversible, the U.S. ambassador said.

In this regard, he welcomed the transition to market prices for energy resources, the adoption of a law on the gas market and expressed the hope that soon the problems with its implementation will be solved, which will help attract more international investors into this market.

According to him, the U.S. expects the adoption of the law on the electricity market and on the independent regulator.

Pyatt also said that over the past three years they have been negotiating the possible participation of the U.S. investors in the privatization of the Centrenergo power generating company.

There is international interest in this company. Interested parties should seize the opportunity, he said.

The ambassador also stressed that the privatization will attract investment in the energy sector, which have been lacking investment for many years, and improve the quality of services.

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