Learning energy efficiency in Kiev

The sudden end to the era of cheap energy in Ukraine may have a silver lining: Several of the country’s oligarchs are starting to modernize their industrial holdings, which are some of the most energy-intensive – and the most wasteful – in Europe.

“For decades, they have enjoyed cheap prices, providing them with little incentive to modernize,” said Anders Aslund, senior fellow at the Institute for International Economics in Washington. “The time has come for the heavy- industry sector to invest in energy-efficiency equipment.”
In recent interviews, owners and managers of the biggest Ukrainian iron, steel and metallurgy enterprises have said that they are spending hundreds of millions of dollars on new equipment and measures to save energy.

Their main goal is to remain competitive in the global market, according to managers and economists. But the hope, Aslund said, is that their example might spur the government to begin preparing the rest of the country for dramatically higher energy costs.

International Herald Tribune