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Energy

Policy Win: The Parliament Adopted Draft Law #3176 Allowing Gas Transmission System Operator of Ukraine to Purchase Gas for Balancing Needs on the Exchange

Policy Win: The Parliament Adopted Draft Law #3176 Allowing Gas Transmission System Operator of Ukraine to Purchase Gas for Balancing Needs on the Exchange

AmCham has consistently supported the initiatives to create an effective market-based mechanism for transparent and open cooperation between gas market participants and the Gas Transmission System Operator of Ukraine (GTSOU), needed in the framework of balancing requirements.

However, the arrangement of such a market-based mechanism was expressly questioned due to the lack of GTSOU ability to undertake balancing actions through purchasing short term standardized products on a trading platform.

The adopted Draft Law #3176 "On Amendments to the Law of Ukraine "On Public Procurements" regarding Purchase of Natural Gas", allows the GTSOU to purchase gas for balancing needs on the Exchange, thus facilitating the launch of short-term gas markets in accordance with EU norms.

AmCham welcomes Ukraine's Parliament decision on adopting this Draft Law and supports the further improvement of regulation, creating a transparent and competitive gas market in Ukraine.