EU Recommends Postponing Electricity Market
An EU delegation said that the new market's July 1 launch could lead to its malfunctioning
Photo from European Union in Ukraine Facebook
A European Union delegation and the European Investment Bank recommended Ukraine postpone its new electricity market.
In a joint statement, they said that “important regulatory and IT systems are not yet ready” and that were it to be introduced now, it could malfunction.
“In addition, in the current political context, it will be more difficult to manage this reform,” the statement said.
In 2017, the adoption of the ‘On the Electricity Market’ law, aimed at fulfilling the obligations under the Association Agreement between Ukraine and the EU, was welcomed.
“We are convinced that the reform envisaged by the law will benefit Ukrainian consumers by introducing transparency, improving the market functioning, and attracting investment, and we continue to support the efforts of the authorities and market participants in implementing this important reform,” the joint statement read.