The President of Ukraine has issued a decree by which he authorized the National Committee on Regulating Electric Energy (NCREE) to regulate the country’s oil/gas market. According to the decree, NCREE is put is charge of rate policy and is to regulate the activities of natural monopolists in electric power industry and oil/gas complex. NCREE is also to license and control fuel market participants’ work, work out and approve the rules of electric energy and gas consumption, and coordinate the state bodies’ work on regulating fuel markets. NCREE is not supposed to register with the Ministry of Justice its documents on establishing rates on fuel (except for the charges on residential customers) and on regulating the fuel market within its powers. The new regulation on NCREE approved by the same decree states that the Committee is authorized to control the sale of more than 25% of the assets of the companies that operate on the fuel market, the quality of services provided by those companies that supply electric power and gas, and annul the licenses issued to entities on the fuel market.
NATIONAL ELECTRICAL ENERGY COMMITTEE TO REGULATE UKRAINIAN OIL/GAS MARKET
13 November, 2012 - 00:00
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