On May 21, U.S. Ambassador Bridget Brink, EU Ambassador Katarina Mathernova, and the National Energy and Utilities Regulatory Commission (NEURC) Chairman Valerii Tarasiuk gathered to discuss the importance of utility regulator independence. Other stakeholders from the United States Government, European Union (EU) and the Energy Community Secretariat also joined a roundtable to mark critical progress underway and lay out the path forward for Ukraine’s integration into EU energy markets — essential for long-term resilience against Russia’s aggression and weaponization of energy.
The Ambassadors and the Chairman spoke about the importance of utility regulator independence and transparency in Ukraine’s energy markets. Such independence can improve utility service delivery and operations, facilitate European integration, and attract the private investment that will be critical to Ukraine’s recovery.
Ukraine is building the tools and legal frameworks it needs to bring the country’s energy sector in line with European standards and practices. The roundtable discussed legislation such as the Regulation on Energy Market Integrity and Transparency (REMIT). With the support of both USAID and the EU, REMIT has been implemented into NEURC’s secondary legislation based on best EU practices which also call for the enhanced independence of energy regulators.
With assistance from the U.S. and EU, Ukraine continues to take steps to strengthen energy market integrity and transparency through building an independent, impartial, and empowered regulator in the energy sector. REMIT and supporting legislation is absolutely essential to ensuring transparency, fighting corruption, and fostering competitive markets to ensure that valuable energy resources reach the Ukrainian people in this time of crisis. With Russia’s regime continuing to weaponize energy, energy reform is absolutely essential to Ukraine’s free, independent, and Euroatlantic future.