Rada passes electricity market bill

09:58, 14.04.2017 1 min read

Ukraine's Verkhovna Rada has passed at second reading the bill on the electricity market.

A total of 277 lawmakers backed the document on Thursday, April 13.

The document was adopted with amendments drawn up by the parliamentary committee (the amendments were backed in once package).

The bill envisages the introduction of all segments of the new market during two years from the moment of the law takes effect, including the bilateral electricity trade market, the a day ahead-market, the intraday market, the balancing market and the auxiliary service market.

The transition period will be two years.

The bill on the electricity market introduces the requirements of the Third Energy Package of the European Union, including the division of companies in electricity distribution and transmission directions.

As reported, bill No. 4493 on the electricity market was passed at first reading on September 22, 2016. Around 1,200 amendments were submitted for second reading. An ad hoc working group studied the amendments. The first attempt to pass the document at second reading was made on April 6, 2017 and failed.