Ukrainian Government approved bill on electricity market

Ukrainian Government approved bill on electricity marketThe Cabinet of Ministers of Ukraine at a cabinet meeting on Wednesday approved the bill on the electricity market.

The bill will be submitted to the parliament without the provisions that allow introducing the emergency situation on the market. This moment will be separately agreed with the participation of lawmakers and specialists.

Presenting the bill, Energy and Coal Industry Minister of Ukraine Volodymyr Demchyshyn expressed hope that the document could be passed at first reading by the parliament in late March.

The ministry earlier said that the bill outlines the introduction of all segments of the new market during two years from the moment of the law takes effect, including the "one day forward" market, diurnal market, balancing market, auxiliary service market, and the bilateral contract market.

According to the document, the transitive period will be in effect by late 2018, and guaranteed buyers will buy up to 75% of the operating capacity of nuclear power plants (NPPs) and up to 30% of average daily generation by hydroelectric power plants (HPPs) at the regulated prices.

Read also: Cabinet approved bill on grid connection

The bill on the electricity market was examined by the World Bank, the Energy Community, the European Union, the European Bank for Reconstruction and Development and USAID and they proposed that 11 amendments are made to the document.
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