Gazprom may finance energy efficiency in Ukraine

The allocation of US 2.9 billion paid by Gazprom under Stockholm arbitration ruling to finance energy efficiency may become an excellent initiative.

In developed countries, they have long realised that instead of investing in the production of another cubic meter of gas, a ton of coal, a kilowatt-hour of electricity or kilocalorie of heat, it is much wiser and economically prudent to invest in energy efficiency. Moreover, it helps enhance energy security, reduce environmental pollution and soften global climate change, which is already felt in Ukraine. In general, energy efficiency must become a key development priority for our country and all sectors of the national economy in the coming decade.

Since the residential sector has an especially large potential in energy efficiency, this money should be allocated to that sector. In doing so, investments in thermal modernisation of apartment buildings may produce the fast and visible effect, which could manifest itself in the reduction of electricity, gas and heat consumption.

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