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25.8 26.35
Politics 2019-11-15T04:16:39+02:00
Ukrainian news
From now on, a new competitive model of the electricity market has been introduced - Igor Nasalik

From now on, a new competitive model of the electricity market has been introduced - Igor Nasalik

“With the launch of a new electricity market, the consumer will receive quality services at a competitive prices” – this was mentioned in a statement of the Minister of Energy and Coal Industry of Ukraine Igor Nasalik, published on the website of the Ministry on the occasion of the new electricity market launch as of today.

“Today, July 1, 2019 an important stage in implementing the reform of the state's energy sector is taking place in Ukraine: it is a full-scale launch of a new model of the electricity market. With this regard, I would like to stress on two important issues. First, the energy market is consumer-centric and provides for the opportunity for everyone to choose the electricity supplier. Second, we deliver on our obligations to the Energy Community and create an opportunity for integration into the European energy market. This as a result will strengthen the energy security of our country.” – said the Minister.

The Minister also mentioned the significant role of the Ministry of Energy and Coal Industry in the preparation of regulatory acts to enable the successful launch of the market and the protection of all its participants, both suppliers and consumers. In addition, he stressed that the Government had taken all necessary decisions so that after the launch of the market there was no increase in electricity prices for the households and industrial consumers.

“With the introduction of a new electricity market model, the price of electricity for the household consumers must remain unchanged – we took care of it. Also the price should not rise sharply for industrial consumers. During the transition period, some restrictions are imposed in order to prevent the rapid growth of tariffs. The market must go through the evolution until its full liberalization.” – Nasalik said.

Reference: according to the Law of Ukraine “On Electricity Market” adopted by the Parliament in 2017, the new wholesale electricity market is to be introduced as of July 1, 2019. This launch is Ukrainian commitment in frames of the Third Energy Package of the EU. Also, it is the condition of Ukraine's cooperation with the IMF and obtainment of the macro-financial assistance from the EU for EUR 500 mln this year. The retail electricity market within the framework of the energy market reform has been launched on January 1, 2019.