Economy 2021-09-15T08:46:39+03:00
Ukrainian news
Rada Adopts Energy Commission Bill

Rada Adopts Energy Commission Bill

Rada, Verkhovna Rada, energy commission, draft law

The Verkhovna Rada has adopted the draft law on the National Commission for State Regulation of Energy and Utilities which supposes that its members will be appointed by a competition commission for six years with a periodic rotation, and from January 1, 2017 it will be funded with proceeds to the special fund of the national budget from license-holders' fees for regulation.

Draft law No.2966-D as a whole received votes of 250 Members of Parliament, while 226 votes enough for approval, Ukrainian News Agency reports.

Commission members are approved by the President on basis of decision of the competition committee.

The competition committee has five members: two selected by the Parliament (one from the Committee on Housing and Utility Services and one from the Committee on the Fuel and Energy Sector and Nuclear Safety each), two by the President and one by the Cabinet of Ministers after a recommendation of the Ministry of Energy and Coal Industry.

The Energy Commission is to have seven members including the chairman.

Its members are to be appointed for six years without the right to occupy the position for more than two terms.

Not more than two new members can be appointed (or reappointed) within each calendar year except cases when more than two Commission members are relieved early within this period.

The chairman is elected by the members by secret vote. The chairman is re-elected once every two years after the date of approval of the new composition of the Energy Commission.

Before July 1, the chairman is to submit to the Rada's Committee on Budget Policy the Commission's draft budget for the next year.

The base for regulation fees is companies' income from Licences operations for the reporting quarter.

The rate of the regulation fees will be determined by the Commission by dividing the planned finance needs for the next needs by the companies' aggregate income from the licensed operations for the previous years.

The maximum rate of such contribution is 0.1% of the company's quarterly revenue from the licensed operations.

The contribution for the regulation is to be paid to the special fund of the state budget on quarterly basis within the first 30 days of the next quarter.

As Ukrainian News Agency earlier reported, the Energy Commission exercises government regulation of natural monopoly entities in the electric power industry, heating supply, oil and gas sector, centralized water supply and sewerage, and also ensures implementation of price and tariff policies in these fields.

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