Ukraine will ensure independence of NEURC – IMF memo

10:01, 12.06.2020 1 min read

Ukraine in the memorandum to the International Monetary Fund (IMF) has declared its intention by the end of March 2021 to bring the legislation on the NEURC (the National Energy and Utilities Regulatory Commission of Ukraine) into compliance with European requirements.

"We will adopt legislation to bring the powers and responsibilities of the energy regulator (NEURC) in line with the EU Third Energy Package and Energy Community Treaty and the 2016 NEURC law by the end of March 2021. We shall also amend and enforce gas market secondary legislation in line with the European gas market acquis," the document reads.

As reported, the Energy Community Secretariat has repeatedly stated that subordination of the NEURC to the Cabinet of Ministers contradicts the Third Energy Package, which Ukraine was obliged to follow when joining the Energy Community.