The law on the electricity market came into force on June 11 after its official publication in the Uriadovy Kurier newspaper.
As reported, Ukrainian president Petro Poroshenko signed the law on the electricity market on June 8.
Rada adopted draft law No. 4493 on the electricity market of Ukraine at first reading on September 22, 2016. About 1,200 revisions were submitted to the document by a specially created working group by second reading. The first attempt to adopt the document at second reading on April 6 failed, while on April 13 it was supported by 277 votes.
The law on the electricity market provides for the introduction of a new market model, which includes a number of segments: the market of bilateral contracts, a “day-ahead” market, the intraday market, the balancing market and the ancillary services market. The implementation of the law provides for a two-year transition period.
The document implements the norms of the Third Energy Package of the EU, including the issue of separating companies according to the areas of distribution and transmission of electricity. (Interfax-Ukraine/Business World Magazine)
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