Policy Win: The President of Ukraine signed the Law on Renewable Energy Auctions
A new mechanism for supporting green electricity was established by Law #2712-VIII dated April 25, 2019 “On Amending Certain Laws of Ukraine to Ensure the Competitive Conditions for Electricity Production from Alternative Energy Sources”, signed by the President of Ukraine.
Members of the American Chamber of Commerce in Ukraine supported adoption of this Law and addressed proposals for improvement of its text to respective state stakeholders.
An auctions mechanism for renewable electricity producers establishes a more structured, transparent and competitive process able to bring out the real price of green energy. In the past few years, auctions have become more popular worldwide, and its introduction in Ukraine only indicates compliance with current global energy trends.
Clear administrative procedures, fairness to all bidders and transparency are essential to the success of an auction mechanism.
Chamber Members are ready to contribute to the development of secondary legislation to foster an effective use and efficient implementation of the Law in order to improve the production of electricity from renewable energy sources.