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16:03
LIBERALIZATION OF ELECTRICITY WHOLESALE MARKET TO LEAD TO FALL IN ELECTRICITY PRICE, SAYS AMCU

Kyiv, July 30 (Interfax-Ukraine) – Reforms to liberalize the wholesale electricity market, which would allow consumers to sign direct agreements with electricity generating companies, would increase competition between organizations and would lead to a fall in the price of electricity for consumers, according to Oleksandr Melnychenko, acting head of the Antimonopoly Committee of Ukraine (AMCU).

"The antitrust agency strongly backs a plan for the liberalization of the Ukrainian electricity market, which would increase competition between electricity generating companies thanks to direct relations with consumers, and which would lead to a fall in the prices of electricity," reads a committee press release, citing Melnychenko.

The committee's leadership said that when the Ukrainian electricity market switched to a more liberal model, there would be more cooperation between the committee and the National Electricity Regulatory Commission (NERC) regarding the creation of rules and the provision of control over their observation by market players to support the further development of fair competition.

The release says that NERC representatives and some European experts agree with the committee.

The committee plans to cooperate with the cabinet and NERC in the regulation of the electricity market and the protection of consumer rights when selecting electricity suppliers.

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