G7+ and Ukraine acknowledge the Energy Community’s role in unleashing potential of energy reforms 

During the Ukraine Recovery Conference 2023, the G7+ and the Government of Ukraine have acknowledged and recognized the Energy Community's pivotal role in unleashing the potential of energy reforms in Ukraine. They have jointly agreed on the priority of tracking and reporting key reform activities as part of the Clean Energy Partnership, while acknowledging the significant existing efforts made by the Energy Community in this field and other international organizations.

G7+ group committed to strengthen its diplomatic, development, and trade efforts to catalyse and maximize investment in support of Ukraine's Energy Strategy to 2050, the forthcoming National Energy and Climate Plan, and Ukraine's National Recovery priorities. The focus will be on utilizing existing donor instruments to provide coordinated support for a resilient, efficient, decentralized, and smart energy system that contributes to Ukraine's economic revitalization and long-term growth. Click here for the general statement.

Ukraine is a contracting party to the Energy Community Treaty, and if implemented diligently, it offers a stable legislative and regulatory environment necessary to attract investors for the green reconstruction of Ukraine's economy in line with EU accession process and climate commitments. The Energy Community’s contribution and engagement in the reconstruction process is focused but not limited to the following three pillars:

Strategic policy planning, implementation, and monitoring: The Energy Community Secretariat supports Ukraine in developing the National Energy and Climate Plan (NECP) which is the EU template for energy and climate governance, 2030 energy and climate targets, and long-term objectives of climate neutrality. This collaborative and inclusive effort aims to create a sustainable and investor-friendly regulatory environment that attracts capital and contributes to Ukraine's sustainable reconstruction. The Secretariat's active involvement in the NECP process will be organized in close collaboration with the international community – via G7+ - through the launch of the High-Level Advisory Group on the sidelines of the conference. 

De-risking framework for investments: The Ukraine Energy Market Observatory monitors the progress of necessary reforms and ensure a stable legislative and regulatory environment in alignment with the Energy Community Treaty. By consolidating market monitoring functions and providing recommendations to Ukrainian authorities, the Energy Community Secretariat contributes to de-risking investments and fostering an investor-friendly climate. Drawing on its extensive experience in collaborating with International Financial Institutions, the Secretariat also assists in structuring policy reforms and advancing market developments in Ukraine.

Designing the framework for a renewable energy renaissance: The Energy Community Secretariat supports Ukraine's efforts to build a robust and well-designed renewable energy sector. Through its regulatory framework and active engagement with stakeholders, the Secretariat addresses legacy issues and provides support for the development of renewable energy projects. The establishment of a new Clean Energy Partnership for Ukraine, in collaboration with the G7+ group, further solidifies the commitment to critical reforms in the renewable energy sector.