Attacks on the Trypilska power plant, which was the biggest energy supplier for Kyiv, destroyed its transformer, turbines and generators.Attacks on the Trypilska power plant, which was the biggest energy supplier for Kyiv, destroyed its transformer, turbines and generators.A dramatic rise in European energy prices is inevitable if the Russian destruction of Ukrainian energy infrastructure continues unabated, the former chief executive of Ukraine’s state-owned oil company has warned.
Last week a massive missile and drone attack destroyed one of Ukraine’s largest power plants and damaged others, as part of a renewed Russian campaign targeting energy infrastructure. He said the impact on energy prices of the Russian attacks would be twofold – a potential increase in Ukrainian demand for gas and electricity in, and an overall market response to the likelihood that Vladimir Putin is winning the war in Ukraine. “If European energy markets start to believe Russians are winning this war it will have a dramatic negative effect on energy prices”.
He warned: “We are going to see extensive blackouts – that is the reality and it is because we do not have access to air defences and fighter jets to combat their glide bombs.” “So now is the time to create diversified or distributed smaller green generation in Ukraine, because there is no other option left. Many of these stations will need to be protected with concrete bunkers. It will require a new modus operandi for the west because it is going to require investment now, preferably through an agency that raises money for investment now in wartime despite the risks of military strikes.