Senate Approves Updated Electric Power Industry Law for Improved Market Transparency and Investment Opportunities
The Senate of Uzbekistan is making efforts to improve the country’s electricity market by introducing a new law. The main goals of this law are to create a competitive electricity market, ensure reliable power supply, establish a liquid market, and introduce general provisions for regulating the activities of traders.
During the 54th plenary session of the Senate, discussions were sparked about the need for this new law. It was pointed out that the current law, which was adopted in 2009, lacks mechanisms to support competition in wholesale and retail markets, does not ensure stable and cost-effective power supply, and fails to establish guarantees for protecting consumer interests in terms of pricing and service quality.
The new edition of the Law “On Electric Power Industry” aims to promote an efficient, transparent, non-discriminatory, and competitive electricity market. It seeks to protect consumer interests in terms of pricing, reliable power supply, and service quality, as well as create a liquid market where electricity can be sold without obstacles.
This law will also establish the structure and general rules for the efficient functioning of the electric power industry, encouraging the development of a competitive environment and attracting private investments.
Additionally, the law introduces general provisions for regulating the activities of traders in the electricity market, outlining their rights and obligations to ensure fair and transparent practices.
Passing this law is expected to attract private investments into the electric power industry, define the rights, obligations, and responsibilities of electric power enterprises, and stimulate the production of electricity from renewable sources. It is seen as a step towards improving the electricity sector in Uzbekistan and enhancing the overall energy market.
