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DTEK weekly briefing: 23 May 2022

Published by , Editorial Assistant
World Pipelines,

On Monday 23 May, Ukraine’s energy security was the topic of DTEK CEO, Maxim Timchenko’s weekly briefing. The briefing took place in Davos, where DTEK arranged several business meetings. In addition, on Wednesday 25 May DTEK will take part in a public discussion on ‘The end of Russian blackmailing and the renaissance of Ukraine: a new energy security strategy for Europe’. Here are the key messages from the briefing:

Key DTEK’s aims in Davos

  • Ukraine is the number one topic at Davos, focusing on Ukraine’s future role in the future, particularly regarding energy security.
  • A critical part of energy security is renewables. DTEK is leading the ‘30 by 2030’ initiative, which aims to build 30 GWy renewables capacity in Ukraine by 2030 as a significant part of Ukraine's rebuilding plan.
  • A major part of DTEK’s mission in Davos is promoting ‘30 by 2030’. We believe Ukraine can become a benchmark for renewable technology, implementing new technology and business models.
  • Further details about the initiative will come from the Ukrainian conference in Lugano, as part of a wider discussion about the details of rebuilding Ukraine.
  • What is more important is that, as a result of this initiative, Ukraine will be able replace Russian energy sources, helping the EU redesign its energy security.

Ukrainian energy sector outlook

  • In Ukraine, there are currently around 696 settlements still without electricity, impacting about 641 000 people. The worst affected are in the Donetsk region (332 000 people), Luhansk (128 000 people) and Kharkiv (91 000).
  • The government of Ukraine has halted regulation of gasoline and diesel prices so market operators can saturate the market with the necessary reserves.
  • The EU plans to allocate €300 billion to accelerate the abandonment of Russian energy. This was stated by the President of the European Commission (EC), Ursula von der Leyen in Brussels, when she announced the REPowerEU action plan.
  • Citigroup analysts predict that, due to the sharp rise in gas prices this year, Russia may receive a record US$100 billion from the EU in 2022, which is almost twice as much as in 2021. That means more money for Russia to murder Ukrainians and try to destroy our country.

DTEK Group operations amid the war

  • Since the beginning of the war, 33 DTEK employees have been killed, 72 wounded and 1 is missing.
  • Since 24 February, DTEK's emergency crews have restored power supplies to more than 1.6 million Ukrainian homes.
  • On 18 May, DTEK restored the company's power lines and substations that had been destroyed by the occupiers, and restored electricity supply to 100% of the liberated Kyiv region's settlements.
  • Over 1000 workers from Kyiv and Kyiv region, and the Dnipro and Odesa oblasts, have worked hard to restore 10 000 km of power lines in the Kyiv region.
  • Overall, electricity supply has been restored for more than 260 000 families in the Kyiv region since the start of the war. Since the liberation of the Kyiv region on 2 April, power has been restored for more than 150 000 families.
  • DTEK managed to restore the power supply to the Kyiv region in 45 days, instead of previously announced 60 days.
  • The company has invested around US$10 million in restoring Kyiv's electricity supply.
  • Battles continue in Donetsk region. Energy infrastructure is being damaged by shelling on a daily basis. More than 300 000 residents in 277 settlements of the region are currently deprived of electricity supply.
  • Since the beginning of the war, DTEK has provided critical infrastructure companies with US$3.3 million worth of electricity free of charge. Currently, more than 100 institutions in Kyiv, Dnipropetrovsk and Donetsk oblasts receive free electricity. These are medical facilities, military facilities and law enforcement agencies.
  • DTEK has made the first test supply of 50 000 t of thermal coal to Poland. Further shipments are limited by Ukrainian and Polish railways, which were not designed for the level of trade that began since the beginning of Putin’s war.
  • This trade is going to be of central importance for the rebuilding of Ukraine. We will need significant finance, which we want through trade not charity. It is also a major part of rebuilding the EU’s energy security, removing its dependence on Russia.

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