15:39 09.07.2024

PM hopes for energy situation improvement in last third of July

2 min read
PM hopes for energy situation improvement in last third of July

Prime Minister of Ukraine Denys Shmyhal is optimistic about an improvement in the energy sector in late July.

"The government constantly focuses on energy. The situation remains very challenging. Due to the aftermath of total enemy shelling and heat, hourly outages continue. However, we expect an improvement in the situation in the late twenties of July," Shmyhal said during a government meeting on Tuesday.

According to him, repair work on some generation facilities will be completed, increasing the capacity of the power system, and the outages will not be as prolonged.

"Another key direction is the development of decentralized generation. The government has developed and already partially launched a set of measures to encourage citizens and businesses towards energy resilience," he added.

Among the programs mentioned by the Prime Minister are loans for citizens at 0% interest up to UAH 480,000 for 10 years for the installation of solar, wind installations, and energy storage systems; preferential loans for small and medium-sized businesses up to UAH 150 million for up to 10 years at 5-7-9% annual interest for the installation of gas-fired power generation; loans for associations of co-owners of multi-apartment buildings (ACMB) up to UAH 5 million; and loans for large businesses for five-seven years at 14-16% annual interest secured by equipment.

"Also, bills have been submitted to the parliament to abolish the duty and VAT on the import of energy equipment. We expect prompt adoption of these bills by the Verkhovna Rada. We anticipate that all these mechanisms will be fully operational no later than July 25," Shmyhal concluded.

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