NEURC to verify the utilization of the support delivered by the Ukraine Energy Support Fund

The Energy Community Secretariat and the National Energy and Utilities Regulatory Commission of Ukraine (NEURC) have formalized their commitment to enhancing collaboration on the activities of the Ukraine Energy Support Fund by signing a Memorandum of Understanding on 21 November 2023.

As part of this cooperative effort, the NEURC will play a crucial role in the verification and documentation of the ongoing utilization of items procured and delivered under the Fund by Ukrainian energy companies. This verification process will occur annually, parallelly with the inspection of licensees. The NEURC's experts will thoroughly examine the equipment and fuel procured through the Fund and will duly report the findings to the Energy Community Secretariat.

Artur Lorkowski the Director of the Energy Community Secretariat emphasized the importance of this collaboration, stating: “The Fund's work is essential in helping Ukraine have uninterrupted energy supplies, with the verification process playing a vital role in validating the integrity and effectiveness of procured goods and services. NEURC's engagement in the Fund's verification process reinforces the trust of donors that the support provided by Fund will be used effectively during the martial law and after it will cease.”

The Ukraine Energy Support Fund was established with the objective of providing financial assistance to repair Ukraine’s critical energy infrastructure damaged by Russian attacks and ensuring the continued functionality of the energy sector. It is managed by the Energy Community Secretariat, with contributions from governments, international organizations, and corporate donors. To date the Fun has reached EUR 272 million in pledges, with EUR 192 million already deposited in the Special Purpose Account.