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Zelensky signs law to ensure control of electricity prices in conditions of insufficient competition

Source : 112 Ukraine

The law establishes a ban on the sale or supply of electric energy imported from the Russian Federation
19:04, 25 December 2019

Volodymyr Zelensky
Open source

President of Ukraine Volodymyr Zelensky signed a law that will ensure control of electricity prices in conditions of insufficient competition in the market. This is stated on the website of the president.

"The settlement of issues of cogeneration plants operation according to the new model of the electricity market is a necessary prerequisite for providing heat supply to consumers during the heating period," the report said.

The law provides that in the event of significant price fluctuations in the electric energy market, Committee of control in the market has the right to st the day-ahead prices with appropriate justification.

The right to temporarily set the tariff for electricity supply is received by the Committee from April 1, 2020.

The law also establishes a ban on the sale or supply of electric energy that was imported from the Russian Federation. In addition, the Cabinet of Ministers is granted the right to cancel this ban for a certain period in order to avoid an emergency in the unified energy system of Ukraine.

Related: Tariff for Russian gas transit to be increased, - Energy Minister

Earlier Secretariat of the European Energy Community supported the certification of the new operator of gas transmission system of Ukraine as the Secretariat reported.

“By an Opinion adopted today under the Third Energy Package, the Secretariat confirmed that the newly established gas transmission system operator of Ukraine, GTSO, is unbundled in line with the requirements from European law,” the message said.

It is note that the positive conclusion of the European Energy Community is the consequence of the law on the independent gas transporting system operator recently adopted by the Verkhovna Rada. On the basis of this Law, the vertically integrated Naftogaz group transferred the shares in operator of gas transporting system to main gas pipeline of Ukraine, a holding company controlled by the Ministry of Finance. The Ministry of Finance also equipped operator of gas transporting system with so-called economic management rights over the transmission assets, which enable the company to use and operate the state-owned system. As a consequence of these transactions, operator of gas transporting system will operate as an independent system operator (ISO) as from 1 January 2020.

Related: Decision on certification new operator of Ukrainian gas transmission system by European Energy Community is expected on December 26, - Kobolev

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