17:03 04.02.2021

Energy Minister estimates compensation to 'green' generation until 2029 at $ 10-20 bln

2 min read
Energy Minister estimates compensation to 'green' generation until 2029 at $ 10-20 bln

An overstated tariff for energy from renewable sources (RES) in comparison with the market rate leads to significant and problematic payments to investors for Ukraine, which are estimated at $ 10-20 billion until 2029, acting Energy Minister Yuriy Vitrenko has said.

"If to look at the difference between the feed-in tariff and the market price, at least now, and multiply this by conservative estimates of production from renewable sources and multiply this by the term of the feed-in tariff - until 2029, then the amount of compensation from the state budget to investors in green energy will be from $ 10 billion to $ 20 billion," he said while discussing the economic strategy until 2030.

Vitrenko noted that the feed-in tariff is several times higher than the market price.

"For a developing country like Ukraine, $ 10-20 billion is a significant amount, which is a problem," he stressed.

The minister also criticized the current system of payments through the energy system operator Ukrenergo, which has no interest in paying for renewable energy sources, since their uneven generation brings it additional problems. According to Vitrenko, such payments should be made through the state budget as a public good in the form of clean energy.

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