also on our show, europe wants to cap natural gas prices, but so far there are more questions than answers about how a plan would work. hello, welcome to the show. i'm see from beardsley. we begin here in berlin, where ukrainian leaders are pushing for immediate help to fund the rebuilding of critical infrastructure. as winter nears, a president flawed mid zalinski, urging attendees via video conference for $17000000000.00 in fast recovery funding to help with housing and with the energy grid. a particular recent russian attacks have targeted ukraine's electricity network. a german chancellor, olaf schultz, meanwhile, has called the broader rebuilding of ukraine, a challenge for generations. and he's appealed to nations for further commitments. the world bank estimated back in september that total rebuilding costs for ukraine could mount to more than $350000000000.00. and before talking to e leaders, sholtes also appealed to german businesses for help rushes daily bombardments of ukraine are leaving housing roads, railways and power plants and ruins and,

and is not in sight. but the german government is already preparing efforts to help rebuild ukraine with winter approaching ukrainians. need electricity heating and water. german chancellor, olaf sholtes is hoping to attract investors with the prospect of e u membership for ukraine. decent china. this decision sends a signal to private investors. those who invest now in the reconstruction of ukraine are also investing in a future e u member. and that would be part of our legal community and our internal market. some 2000 germany companies are already active in ukraine. and despite the war most, i've remained there, that number is likely to grow with many helping to rebuild the country, the most. what's needed to restructure quickly and efficient ukraine. an energetic system and especially in the field of decentralization of supply meant because they target in this huge former soviet union electricity to station it it's very simple

to shut down a lush cities, for example, keel or the leave or hacker from there for the electricity. the head of a large logistics company based in the city of the ne pro, is eager to find some investors. it's a good time to invest to rod or truck solutions. for $2.00 proficient something to ukraine. i would also noticed, warehousing as long as we have different gods with between the european community and ukrainian, a railway jo infrastructure. it is very good time for in the west and to dry ports on the border between our european community and ukraine for this moment. a lot will have to be done to rebuild ukraine and it could take decades. but the infrastructure is likely to be better than before. the war is far from over. but

reconstruction efforts are already beginning. and for more on this, i'm joined now by ukraine's deputy energy minister yas loved him shank of your slide. welcome to the show you tweeted a week ago at the height of these latest russian attacks against the energy infrastructure. intuited never before have so many people and their survival depended on having electricity supply. how is the situation right now? first of all, it is important to understand this of this course time in the human history that the lot european countries like ukraine experienced such mass and drop on docs in needs critical energy infrastructure never before energy networks being so advanced and extensive, never before. yep. so may need me so being fired, still can use the s in ukraine and never before have so many people and their

survival dependent on heaven and the supply. that's why right now we are feeling 2 hour at partners. it growth, the goal to help us stay functioning and to repair these damages. these are that we need this, i'm sorry, the $17000000000.00 that you're requesting right now that the link is requesting for immediate help. he tells where it would go. are we talking about hospitals? are we talking about substations? give us an idea. you know, we need to doesn't, of transformers, hundreds of kilometers of cable and equipment and suppliers. that is why we secure these a system in number one priority today, as well as race and then ukraine's era defense. we must protect critical energy assets and cd down infrastructure, especially electricity. russian ex actions are grant crimes. that's why,

after all of the jury will demand that not only the military, but also those school assist, identify our energy targets russian power engineers are brought to justify this is that the situation quite critical? only on the 10th of october, almost $7.00 meet on people, lost access to electricity due to rush and massage attack. and these october times is repeating again and again because of the missile tear or hundreds of thousands of ukrainians are cut off from electricity. right. now and the moment in many parts of our country, and this is really very difficult, don't have access to electricity because it's quite a cold weather and people should protect. this is how they should have

hot food, hot water and electricity supply. this is very important, given the current damage and what we've seen right now. obviously russia still appears to be ready to attack many, much of this infrastructure. but given the current damage, can we expect to bring many of these critical systems back online before the real, real cold weather sets in? how does it look? you know that more than 30 percent of critical energy cv on energy infrastructure and we're affected. you said i understand that the biggest in euro ukrainians appreciate nuclear power plant occupied by russians because of that the last more than 20 percent of nuclear part of electricity generation. for example, now at the percent off we can generate sion. beaudet good evidence confirm and that ukraine's energy sector has

a great potential. the fact that even now in this topic of time, with all these massive dachelle fractions on our energy and foster action, we managed to maintain the resilience of our greets and continue supply and electricity, water, and gas to consumers with minimal control blackouts. we have laid out, but this breakouts control by our transmission system operator. and this is because of necessary to have time to do repair complaints. but this is really a should understand that rations in tend to make old whether they're accomplished in genocide or great nuns and the survival of ukrainian c. this is under fred, this is really very, very difficult and we'll have to leave it there for now. yas, love them shank off that's ukraine's deputy energy minister,

talking about the typical situation. they're facing critical energy infrastructure as winter approaches in ukraine. we thank you for your time. thank you. right, and here in germany you energy ministers are attempting to flush out a possible block wide price cap on natural gas at a meeting in luxembourg, i should say to day. and those talks come after the european leaders agreed in general on a price cap. but without the details of many countries, especially in southern europe, hope the measure would lower exploding energy prices due to the war in ukraine. however, several members, including germany and the netherlands, fear that it could actually end up hurting supply was a how exactly is a price cabinets work? well, 1st, let's take a step back with gas lows cut off from russia. the was currently importing more liquefied natural gas from countries like the u. s. norway, and elsewhere at expensive market rates. if you impose a price cap,

it would say member states agreeing to a maximum price that would be willing to pay for the gas. the hope and the theory is that the blocks bulk buying power would then convince gas producers to bring down their ballooning prices. but as we said, not every one is on board countries like germany, fear the cap could actually force gas producers to seek other more profitable markets for the elegy like in asia where there's also high demand for gas right now . they fear that that couldn't turn calls a major shortfall for the u, harming europe's energy intensive industries even further and driving a prices even more or less go to clemens 1st. now he's present of the ego institute for economic research clemons. i wanna, before we talk about this price gap idea, i want to start by looking at the general business climate right now in germany does something that you and your institute follow you release a new publication today looking at it. how important is gas and our gas prices for businesses in this country? very important. the gas shortages are

a major problem at the moment for manufacturing, for many service industries and gas also, the gas price also determines the cries for electric energy for power. so it's very important price and the supply limitations of gas are a major risk for the germany economy. you and i've talked about price caps before for electricity, i believe, was another proposal. you said that your fear with that that would hit supply. do you see the same concern here? if gas prices are kept? i do intact. so the idea here is that the, you should cap the price of gas use its market power and international gas markets . the problem is that there is as cast at the, at the moment and if the you use this market part to reduce the price, there is a danger that quantity is decline. and that there are moments when there would be room in the infrastructure to import all gas,

but there will be no gas available. that's why i think it is not the best moment to use the use market power. this would be easier in a more relax situation. than of gas markets in a situation where we have more infrastructure to make sure that no shortage of the rise. so i think that the long time this can be a good idea in the short term. in this immediate crisis, this probably isn't. we've seen in recent days, the gas prices are actually lowering. i think the trend has been going on for weeks now. does that sort of make this debate moot in the 1st place? if gas prices are on the way down? i think that's unlikely. gas prices are declining at the moment because the stalls are filled and the physical infrastructure is at full capacity. so it doesn't make sense to import much small gas in the shop talking about the situation is very likely to change as we get into the winter. so especially if the winter it's cold, we will very quickly use up all storage, the stored gas and then riot prices will rise again. right?

clements 1st as president of the eco institute for economic research. immunity. thank you. i care. right, that's our show for now. we'll be back later with more in the meantime, if you want to learn more about these and other stories hooting more about gas prices, no energy crisis here across europe. check us out online dot com slash business. we're also on youtube under the dw news channel. i'm seeing beardsley for me and the business team like to watch with with

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