On September 30, representatives of the Chamber Energy Committee took part in the meeting with Mr. Volodymyr Demchyshyn, Minister of Energy and Coal Industry of Ukraine devoted to the new regulatory framework designed for the introduction of the Law on Natural Gas Market, which will come into force on October 1, 2015.
Opening the meeting, the Minister informed participants on the latest decision of the National Commission for State Regulation in Energy and Utilities on adopting a number of resolutions, aimed at shaping regulatory framework on functioning of the natural gas market. Information about respective decisions is available at the following link.
Further, the Minister announced that the Cabinet of Ministers of Ukraine adopted the “Procedure of Establishing Security Natural Gas Reserve (the “Procedure”)” as well as certain other legislative acts necessary for the implementation of Law “On Natural Gas Market”.
During the discussion, Chamber Members raised acute questions, such as whether the adopted Procedure would foresee the differentiation of the amount of the security gas reserve according to the heating and non-heating season, whether any transitional period was envisaged by the adopted regulation and what would be the mandatory amount of the reserve. According to Volodymyr Demchyshyn, it will be important and necessary to react to the market’s behavior and introduce amendments to the newly adopted regulatory framework.
To sum up the results of the discussion, the Chamber Vice President, Tetyana Prokopchuk, addressed a question to the Minister whether the Chamber Members could submit their proposals to the adopted Procedure and whether the Ministry was open for such proposals. Mr.Demchyshyn encouraged the participants to establish effective communication with the Ministry by suggesting their proposals to the current legislation as well as to address other concerns regarding the energy sector.
To get involved in the Chamber Energy Committee activities, please contact Tetiana Temniuk, Chamber Policy Officer (Energy Issues).