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Economy 2019-09-15T04:12:55+03:00
Ukrainian news
EBRD Call For Postponement Of Launch Of Free Electricity Market

EBRD Call For Postponement Of Launch Of Free Electricity Market

The European Bank for Reconstruction and Development (EBRD) believes that the launch of a free electricity market should be postponed indefinitely.

The EBRD announced this in a statement, Ukrainian News Agency reports.

The EBRD joins other international partners in recommending postponement of the launch of an open wholesale electricity market in Ukraine for a certain period because preparations for its implementation have not yet been completed, the statement said.

In particular, according to the statement, the detailed regulatory and technical infrastructure necessary for its successful operation do not exist.

According to the EBRD, launch of the market on July 1 will most likely lead to disruption of its operations, and this will not be in the interest of Ukrainian consumers and market participants.

Besides, according to the statement, postponement of the launch of the market should be accompanied by development of a clear plan of successive steps that will ensure its proper launch.

As Ukrainian News Agency earlier reported, businessman Rinat Akhmetov’s DTEK Energy holding company has announced that it is ready for the launch of a free market of electricity on July 1, 2019.

The Association of Energy and Utilities Consumers has stated that it expects electricity prices to rise by 20-50% after the launch of a free market of electricity because of the monopoly positions of the DTEK Energy holding company and the Energoatom national nuclear power generating company and asked the Cabinet of Ministers and the parliament to postpone the launch of the electricity market by 1-2 years.

Minister of Energy and Coal Industry Ihor Nasalyk has said that he sees no reason to postpone the launch of an electricity market.

The Law on the Electricity Market provides for launch of full-scale operation of an electricity market on July 1, 2019.

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