Asters Expert Discusses the Future of the Energy Market

Yaroslav Petrov, Asters associate with substantial expertise in natural resources and energy spoke at a roundtable discussion regarding the draft law on the functioning of the electric energy market. The roundtable was organized by the Ukrainian National Committee of the International Chamber of Commerce under the aegis of the Ministry of Foreign Affairs of Ukraine on 5 March 2013 in the premises of the Academy of Diplomacy of Ukraine. It brought together representatives of the Ministry of Foreign Affairs, Members of the Parliament, and prominent energy market experts. The discussed draft law was approved by the Parliament in the first reading in November 2012.

An emphasis in Yaroslav Petrov's presentation was on the draft law aspects related to functioning of "green tariff" (feed-in-tariff) pricing mechanism. In particular, he pointed out that the draft law introduces procedure for determination of actual price payable to renewable energy generators and compensation of the green tariff to the seller trading in the "the day ahead" market. Mr. Petrov also discussed the provisions of the draft law establishing the fund for compensation of tariff imbalances and financial commitments of the fund's members, including nuclear and hydroelectric energy generators, which are supposed to cover green tariff needs.

Roundtable participants also discussed many other aspects of the law, in particular its role in harmonizing the rules of the Ukrainian energy market with EU regulations. The proposals of the roundtable will be used in preparing the draft law for its second reading.

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