Economy 2021-03-15T06:40:05+02:00
Ukrainian news
Cabinet Establishes Coordination Council For Introducing Reforms In Energy Sector

Cabinet Establishes Coordination Council For Introducing Reforms In Energy Sector

reforms, Cabinet of Ministers, Council, energy sector

The Cabinet of Ministers of Ukraine has established a temporary consultative body - the Coordination Council for issues of introduction of reforms in the energy sector.

The Cabinet of Ministers endorsed this decision at its sitting on Wednesday, Ukrainian News Agency reports.

The Cabinet of Ministers has appointed Prime Minister of Ukraine Volodymyr Groysman the chairperson of the Council to replace Vice Prime Minister Volodymyr Kistion.

The Coordination Council for issues of introduction of reforms in the energy sector includes First Vice Prime Minister / Minister of Economic Development and Trade Stepan Kubiv, Energy and Coal Industry Minister Ihor Nasalyk, Finance Minister of Ukraine Oleksandr Danyliuk, Justice Minister Pavlo Petrenko, and the chairperson of the National Commission for State Regulation of Energy and Public Utility Services Dmytro Vovk (subject to his consent).

Subject to their consent the Coordination Council for issues of introduction of reforms in the energy sector may also include the Ambassador of the United States, the head of the Delegation of the European Union to Ukraine, the head of the office of the European Bank for Reconstruction and Development in Ukraine, the director of the World Bank for Ukraine, Belarus, and Moldova, and the permanent representative of the International Monetary Fund in Ukraine.

During the sitting the Cabinet of Ministers included Volodymyr Klavdiev, a representative of the Presidential Administration, in the Council following an initiative of Minister Nasalyk.

As Ukrainian News Agency earlier reported, the Verkhovna Rada adopted the bill on the electric energy market on April 13, 2017.

On June 8, 2017, President of Ukraine Petro Poroshenko signed the Law on the electric energy market.

The law had been elaborated together with the Energy Community Secretariat and supported by the European Union, the United States, and international anticorruption organizations.

The new model consists of the bilateral agreements market, "for 24 hours ahead", diurnal, balancing, retail and also the market of ancillary services.

The bill also institutes such special obligations as buying electricity at the "green tariff" and performing functions of "last hope" suppliers.

Besides, the bill makes provisions for completely meeting the requirements of the Third Energy Package of the European Union for the legal and organizational separation of the activities involving distribution and transmission of electric energy from other types of activity.

The draftsmen opine that this will eliminate cross-subsidization, ensure market competition and enhance economic performance of the market players and the energy industry in general.

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