Zelenskyi signs law on control over electricity prices
Ukrainian President Volodymyr Zelenskyi has signed Law No. 330-IX "On the Introduction of Amendments to the Law of Ukraine on the Electricity Market," which the parliament passed on December 4, 2019.
Censor.NET reports citing head of state's website.
"The purpose of the document is to ensure proper control over electricity prices amid insufficient competition in this market and to regulate the operation of thermal power plants under a new model of the electricity market, which is a necessary prerequisite for ensuring heat supply to consumers during the heating period," the report reads.
In particular, the law stipulates that in the event of significant fluctuation in prices in the electricity market, the National Commission for State Regulation of Energy and Public Utilities has the right to set limit prices in this day-ahead market with respective justification. Such prices are set after consultations with the Antimonopoly Committee of Ukraine, the report said.
It also notes that before April 1, 2020, the National Commission for State Regulation of Energy and Public Utilities has the right to set the tariff for electricity supply for the producers engaged in combined production of electric and heat energy at thermal power plants.
"The law establishes a ban on the sale and/or supply of electricity imported from the Russian Federation (under bilateral agreements and in the intraday market). At the same time, the Cabinet of Ministers of Ukraine has the right to lift this ban for a specified period of time to avoid an emergency in the unified power grid of Ukraine," the report reads.
