“This will help Ukraine to keep their electricity system stable, homes warm and lights on during these dark times,” said Europe’s energy commissioner, Kadri Simson, in a statement. “In this area, Ukraine is now part of Europe,” she added.
In case of a major hit to its power system, Ukraine could now apply for emergency electricity supplies from the European system, Mr. Timchenko said. Ukraine also severed its electricity links to Russia and Belarus just before the invasion to establish independence from power sources in hostile countries.
When its transmission lines are damaged or severed, DTEK arranges for Ukrainian soldiers to escort its emergency repair crews, dressed in flak jackets, to reach affected sites. Mr. Timchenko said that six of DTEK’s roughly 60,000 employees had been killed during the war, although not while performing duties for the company.
The Russia-Ukraine War and the Global Economy
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Shortages of essential metals. The price of palladium, used in automotive exhaust systems and mobile phones, has been soaring amid fears that Russia, the world’s largest exporter of the metal, could be cut off from global markets. The price of nickel, another key Russian export, has also been rising.
Financial turmoil. Global banks are bracing for the effects of sanctions intended to restrict Russia’s access to foreign capital and limit its ability to process payments in dollars, euros and other currencies crucial for trade. Banks are also on alert for retaliatory cyberattacks by Russia.
Overall, Mr. Timchenko said, Ukraine’s electricity operations were “relatively stable.” Keeping things that way, though, seems tenuous. The bulk of electricity for Ukraine’s households comes from four nuclear plants, and the one at Zaporizhzhia, Europe’s largest nuclear power station, is now occupied by Russian troops after coming under attack.
So far, he said, electric power consumption is down by around one-third from before the invasion on Feb. 24. That’s because of a falloff in economic activity and damage that can’t be repaired in the short term in places like Mariupol, the city on the Black Sea coast that has been under heavy Russian bombardment, and Kharkiv, the second largest city, which has also sustained major damage. Mr. Timchenko estimated that 1.3 million customers in Ukraine are, in effect, disconnected.
Article source: https://www.nytimes.com/2022/03/18/business/economy/ukraine-energy-company-russia-war.html
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