Kwasi Kwarteng, the Business and Energy secretary for the UK, announced a further £5 million in funding support to provide safety and security equipment to Ukraine’s civil nuclear sector. This continues the huge amounts of ongoing support provided to the Ukraine.
The civil nuclear support fund will prioritise personal protective equipment, communication systems, and radiation monitoring equipment to be supplied to Ukraine. It is hoped that this will enable the usually high level of safety and security to be fully returned to Chernobyl and other Ukrainian nuclear sites.
By providing vital equipment to Ukraine will contribute to the wider world efforts to supply equipment for guard forces and to improve the detection of illicit movement of materials within Ukraine and across borders. This will assist the recovery of the country following the Russian occupation of Chernobyl.
Kwasi Kwarteng had this to say –
“Energy systems play an indispensable role in ensuring national security and economic resilience. Today the UK is ramping up our support to the Ukrainian people in their time of need by helping reconnect power across the country and protecting the safety and security of Ukraine’s nuclear sector, ensuring their frontline is fully equipped in the face of Russia’s brutality.”
The UK Ambassador to Ukraine, Melinda Simmonds, said this –
“Ensuring Ukraine has access to available energy will not only make sure the economy continues to function, but will also keep people warm and allow hospitals to provide emergency healthcare when it’s needed. I’m proud of all the UK is doing to support Ukraine in the face of Russian aggression.”
This announcement follows on from the previous announcement from the Foreign Secretary, who last week announced a £10 million Energy Support Fund. This form part of a larger package to help Ukraine defeat Putin’s war of aggression, and rebuild the country. The funds will help to keep the Ukraine’s energy system running in wartime and contribute to essential repairs to energy infrastructure and help to reconnect power across the country. There is both immediate short-term aid as-well as longer term support for the Ukrainian people. The package addresses issues through utilising UK expertise and British businesses to accelerate the economic recovery.
This new package brings the UK’s support for Ukraine’s energy sector to a grand total of £22 million. This sum includes the £7 million donation of over 850 generators from earlier in the year, which are already in use to power essential services like hospitals and shelters. Support packages have been flooding in from international partners and allies around the world who have joined together in the last week at the Lugano conference (Switzerland) on Ukraine’s Recovery.
Key Inclusions
The £22 million support package includes:
- £10 million Energy Support Fund from the Energy Resilience and Energy Security programme which was announced before the invasion. This three year fund from the FCDO is intended to keep Ukraine’s energy systems running during wartime and to prepare for the modern post-war era.
- £5 million from BEIS allocated to aid Ukraine’s nuclear sector. The UK will procure equipment and work alongside the International Atomic Energy Agency to deliver to Ukraine.
Customer Billing – Will I Be Affected?
As already mentioned, energy costs are spiralling – and the price rises are affecting all of us. For UK energy customers it is difficult to say how your bills will be affected due to the serious volatility in the energy markets. It is important to remember that energy prices as a whole are rising, and this will be passed onto consumers through energy bills, making it something to keep a close eye on.
Different suppliers will feel the pinch in different ways so it is crucial to be aware of the current situation your energy supplier finds themselves in. It is possible to view up to date supplier profiles with any recent changes for all of the energy suppliers in the UK, here.
At a time where bills look set to rise due to market volatility, it is also a good idea to ensure that you are not being overcharged for any of your utilities. It can be a tricky task to navigate but there are free online tools to remove the hassle available.
You can find a free online Gas Bill Calculator to see if you are being overcharged, here.
You can find a free online Electricity Bill Calculator to see if you are being overcharged, here.
Energy Solutions by Us, for You
At a time of great uncertainty in global energy markets, it is easy to feel lost in it all.
Keeping up to date with developing situations and the associated ramifications is a tricky and time-consuming job. It is also one that is not likely a priority for you and your business.
So, what do you do?
You partner with energy procurement experts to take the load off of your desk.
Energy Solutions have been trusted brokers for countless businesses for over twenty years, which means we know how to navigate the energy markets during a time of uncertainty.
Contact us today to find out how we can help you and your business
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