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Day 2 · Economic Investment Forum · Panel

Powering the Future

9 September 2025 IET Savoy Place, London

On stage

CP
Catherine Porter
Moderator · WattLogic
KP
Kasia Piquette
Canadian Energy Ventures
AS
Alexandre Shmatok
Horizon M&T
TB
Sir Tony Baldry
former UK minister
A serving Ukrainian special-forces officer
name withheld for security

With roughly 80% of energy infrastructure damaged, the panel debated how Ukraine should rebuild — prioritising affordable coal, gas and nuclear in the short term while positioning for renewables long term. Panellists stressed that Ukraine cannot "jump the queue" for scarce turbines and transformers and must start planning and ordering equipment now. A recurring theme was resisting costly EU net-zero rules during recovery, the case for market pricing versus wartime state control, and reforming grid access and bureaucracy to attract investors with cheap, reliable power.

The substance

Key takeaways

1
Moderator Catherine Porter grounded the debate in scale — Ukraine has half Germany's population but is a gas-storage giant (30 BCM vs Germany's 25) — and Kasia Piket argued the ~80% destruction of energy infrastructure paradoxically gives Ukraine a "blank whiteboard" to build a template for the world, but only if it stays practical: affordable coal, gas and nuclear now, renewables over the long horizon.
2
Alex Shmatok punctured the "jump the queue" hope with hard commercial realism, explaining that turbine lead times run five to seven years, that producers "do not care who is in the queue," and that Ukraine is "a mosquito on the body of the global economy" — so no political order from Trump or anyone else can leapfrog paying North American customers; Ukraine will get its slot but must plan and order now.
3
A serving Ukrainian special-forces officer who is also an energy-sector businessman insisted Ukraine need not rely on anyone, describing a dense Soviet-built grid where nuclear supplies ~60% of power at a self-cost near 2.5 cents, domestic high-voltage manufacturing (transformers, switchgear, cable), and a demand that the EU not tax Ukraine's CO2 or impose strict green quotas so it can offer investors "the cheapest electricity in Europe."
4
Baldry warned of a coming political tension: as high energy costs drive European deindustrialization and a net-zero backlash (he floated a possible Reform/Conservative government abandoning net zero), Europe may resist Ukraine exporting cheap power even as it accepts Ukrainian self-sufficiency — a friction the panel proposed resolving via export taxes or a 5-10 year adaptation waiver on EU carbon rules.
5
The panel split philosophically on governance: Shmatok argued for privatizing Naftogaz and Energoatom and full market pricing, warning that state ownership is "the biggest cash cow for corruption," while Porter countered that "nobody in the world has figured out how to privatize" grid balancing and security of supply — with both, and an audience energy developer, converging on the need for decentralized, distributed generation and a depoliticized, digital, equal-access permitting system.

In their words

Key quotes

Ukraine has got an amazing opportunity to build something new — the template for the entire world.

Kasia Piquette

Ukraine is a very microscopic, small market. It's like a mosquito on the body of the global economy.

Alexandre Shmatok

one of the war crimes is the persistent attacks on the energy infrastructure.

Sir Tony Baldry
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London proved it. Dallas is next.

The 3rd Ukraine Freedom Summit comes to Dallas, 16–19 March 2027. Same mission, bigger stage.