Statement of Director Kopač on today’s adoption of Electricity Market Law by Ukrainian Parliament
"The adoption today of the Electricity Market Law by the Verkhovna Rada is expected to bring the country’s legal framework into compliance with the Third Energy Package and provides the starting point for the implementation of long-awaited reforms."
"The Electricity Market Law, which was drafted with the support of the Energy Community Secretariat, will enable the establishment of a truly competitive electricity market for the benefit of Ukrainian energy consumers. The law will deregulate generation and supply prices and remove cross subsidies whilst protecting vulnerable energy consumers. Sustainable mechanisms for integration of renewable energy will be put in place and mechanisms for cross-border trade with neighbouring countries will be improved. This will facilitate Ukraine’s integration into the pan-European energy market – one of the key objectives of the Energy Community Treaty.
Of course, the key to reaping these benefits is conditioned on the law’s effective implementation in practice. The Secretariat with support of the British Government, and in cooperation with the Ukrainian authorities, prepared drafts of key pieces of secondary legislation, regulatory acts and market rules needed for the law’s smooth implementation. The Energy Community Secretariat is ready to further support Ukraine in this regard".
The law was adopted with 277 votes in favour, 37 votes against with 15 abstentions. The law still requires promulgation by the President of Ukraine. The law enters into force immediately, while majority of provisions will be applicable from 1 July 2019 on. Following the receipt of the English version of the law, the Secretariat will conduct a comprehensive compliance assessment against Third Energy Package provisions.