An assessment issued by the Energy Community Secretariat today concludes that reasonable improvements have been made to boost the effective independence of the National Commission for the State Regulation of Energy and Utilities of Ukraine (NEURC) during the last 14 months.
An audit performed by the Secretariat in March 2018 identified serious shortcomings as regards the commitment of Ukrainian public institutions to respect the independence of NEURC but also proved the need for the regulator to improve its independent performance and increase public trust in its decisions. The update report analyses the progress made in implementing the recommendations made in March 2018.
The Secretariat highlights the transparent and competitive selection of five new board members in May 2018 as one of the biggest achievements and positively observes the pro-active and committed decision-making policy of the new management. However, the report also carves out that barriers to full financial independence of NEURC and effective ‘bindingness’ of its decisions still exist. The Secretariat therefore upholds its call for legal reforms to address the existing shortcomings.