Ministry of Energy supports actions of NCRES on implementation of new electricity market

Ministry of Energy supports actions of NCRES on implementation of new electricity market

The Ministry of Energy and Coal Industry of Ukraine supports the actions of the National Commission regulating in the field of energy and utilities to abolish a number of normative acts regulating the electricity sector (including the Rotterdam + formula) in connection with the introduction of a new electricity market.

This was stated by the Secretary of the Ministry of Energy Maxim Nemchinov.

"The National Commission, which carries out state regulation in the energy and utilities sectors, is making absolutely normal steps, both right and sound in terms of launching a new market. By this they make it clear that there will be a market, the market needs to be launched, and we will work under market conditions," Nemchinov said.

According to him, all authorities need to synchronize their actions and speed up the process of implementing the law.

"But in any case, we will try, and we are obliged to launch it (the new market, - Ed.) On time, as stipulated by the law" On the Electricity Market". Reforms need to be continued, they can’t be stopped in any case," the Secretary of State stressed.

Nemchinov also noted that market reform and the synchronization of the Ukrainian energy system with the European one in the near future will significantly improve the investment attractiveness of the domestic energy complex.

"It can greatly increase, and will increase the investment attractiveness of our enterprises. What is important for a potential investor? This is absolutely understandable, transparent, the same for all conditions of work in the market. And the formation of the price of the products that they will produce, be it coal, be it gas, be it electricity - it must be clear, transparent and the same for everyone. Therefore, launching the market in the form in which it should be, will greatly increase the competitiveness of the industry and, at the same time, investment attractiveness," he stressed.

The official does not share the opinion of a number of independent experts on the alleged three-time increase in tariffs for the population after the cancellation of the formula "Rotterdam+" and the introduction of a new market.

"I do not see, due to what the cost of electricity for the population can triple, if you cancel the formula "Rotterdam+". The price of coal should not increase much. Secondly, in the total amount of electricity produced by coal at TPPs and CHP plants, it takes 30 per cent. That is, even if we assume that there will be some increase in the price, it will not be reflected in the total amount of electricity," he said.

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