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Economic and environmental aspects of Smart Grid technologies implementation in Ukraine

Interruptions in electricity supply may have a series of failures that can affect banking, telecommunications, traffic, and safety sectors. Due to the two-way interactive abilities, Smart Grid allows consumers to automatically redirect on failure, or shut down of the equipment. Smart Grid technologies are the costly ones; however, due to the mitigation of possible problems, they are economically sound. Smart grids can't operate without smart meters, which may easily transmit real-time power consumption data to energy data centers, helping the consumer to make effective decisions about how much energy to use and at what time of day. Smart Grid meters do allow the consumer to track and reduce energy consumption bills during peak hours and increase the corresponding consumption during minimum hours. At a higher level of management (e.g., on the level of separate region or country), the Smart Grid distribution system operators have the opportunity to increase the reliability of power supply primarily by detecting or preventing emergencies. Ukraine's energy system is currently outdated and cannot withstand current loads. High levels of wear of the main and auxiliary equipment of the power system and uneven load distribution in the network often lead to emergencies and power outages. The Smart Grid achievements and energy sustainability are also related to energy trilemma, which consists of key core dimensions– Energy Security, Energy Equity, and Environmental Sustainability. To be competitive on the world energy market, the country has to organize efficiently the cooperation of