Businesses have also received a "window of opportunities" for transition to online communication with government regulatory and controlling authorities.
During the quarantine, the energy sector of Ukraine received a chance to build modern electronic services, especially in the relationship between consumers and suppliers, DiXi Group Research Director Roman Nitsovych said in his commentary to Ukrainian Energy.
“Comparing to other countries beset with the coronavirus pandemic, the restrictive measures imposed so far in Ukraine are not so strict, even though the government has introduced the emergency situation regime. The transfer of the majority of personnel to the “work from home” procedure and the softening of inspections surely create risks for operation of certain enterprises, but the power system remains stable,” the expert said.
Therefore, in his opinion, protecting employees and maintaining controllability of processes remain the priority task for the government and operators of critical infrastructure.
“The resulting economic downturn will have much greater consequences for the sector. Perhaps low energy prices are good news for consumers, who will receive lower bills, but declining economic activity also means lower revenues for businesses and lower tax payments, let alone the impact on the exchange rate and accumulation of additional debts. Government officials should think about how to stimulate the economy — for example, how to provide support to state-owned and communal power companies, because not all of them will be financially able to go through this decline,” the expert noted.
At the same time, he believes that any crisis can also be regarded as an opportunity.
“The energy sector of Ukraine received a chance to build modern electronic services, especially in the relationship between consumers and suppliers (of gas, electricity, heat, utility services). A "window of opportunities" is also opening for businesses, enabling transition to online communication with government regulatory and controlling authorities. The most important thing is to embrace the most effective and successful practices after quarantine-related restrictions are lifted,” Mr. Nitsovych added.