Q3 2025

Dear Colleagues,

We present to your attention a unique analytical report dedicated to the situation in Ukraine’s fuel and energy complex.

The report covers events that took place during the analyzed quarter. It presents all key processes in Ukraine’s energy sector — from decisions made at the highest political level that shape sectoral policy to major developments in the largest corporations that play a decisive role in the market.

We aim to consider not only official statistics and reports on key trends, but also to delve deeper into the substance of ongoing processes, analyzing the sector from the perspective of the interests of the main influence groups. For this reason, the report contains a substantial amount of insider information that directly affects the current state of the fuel and energy complex and determines the direction of its development in the near future.

In our new analytical report you will find information on the following events and trends:

1. Policy-Making

We analyze how the change of government has affected the balance of power among the key groups controlling Ukraine’s energy sector.

You will learn who actually manages the energy sector today, which political clans have strengthened their positions, and which have lost influence.

The report provides a detailed account of how decisions made on Bankova Street shape the country’s energy policy and how internal conflicts are reflected in the strategic directions of sector development.

2. Corporate Level

This section presents an exclusive analysis of the largest state-owned corporations: Ukrenergo, Energoatom, and the Gas Transmission System Operator of Ukraine.

It reveals the real reasons behind high-profile personnel changes, informal mechanisms for forming management boards and supervisory boards, as well as the role of key figures—from Yuliia Svyrydenko to Timur Mindych.

3. Legislation and Regulation

The report explains which new regulations and tariff decisions have already come into force and how they affect the market. In particular, it addresses the transition to European voltage standards, changes to price caps, and the growth of electricity exports to the European Union. Each measure is examined in terms of its impact on business, consumers, and international partners.

4. Regulatory and Legal Initiatives

This section serves as a detailed guide to the direction in which Ukraine’s regulatory environment for the fuel and energy complex is moving.

It highlights draft laws aimed at integrating the Ukrainian and European energy markets, as well as the launch of a new “clean premium” system for renewable energy producers. This is a source of practical information for investors, companies, and analysts seeking to understand the trajectory of regulatory change.

5. New Projects and Partnerships

Here you will find information on the latest investment initiatives in Ukraine—from the construction of the “Energopark Belz” wind farm and the RISE program of DTEK and Octopus Energy to the creation of the first industrial hydrogen cluster in Volyn.

This section demonstrates that, despite political risks, Ukraine’s energy sector remains one of the most dynamic in Central and Eastern Europe.

Why this report is a must-read:

• A comprehensive and systematic view of everything currently happening in Ukraine’s fuel and energy complex—from political decisions and corporate reshuffles to technological innovations and international partnerships—all in one document.

• Access to exclusive insider information not available in public sources. The analysis is based on direct comments, internal documents, and expert assessments.

• No ideology, propaganda, or public relations—only objective analysis, verified facts, real trends, and precise forecasts, everything needed to understand where Ukraine’s energy sector is truly heading.

The analytical report is available in the following languages: UA, EN.

Purchase the analytical report 

If you are interested in a more detailed answer to a specific question, you may use the extended consultation service. We will provide the necessary information within 24 hours.