By KYIV. Oct 23 (Interfax-Ukraine) – The Secretariat of the Energy Community notes the need to strengthen the institutional independence of the Ukrainian Energy and Utilities Regulatory Commission (NEURC).
“Acknowledging the improvements in NEURC’s independence achieved since 2019, the Secretariat remains concerned about several provisions of Ukrainian legislation, including the NEURC Law, as they do not guarantee the functional and financial independence of NEURC,” the report says.
“NEURC’s independence and transparency is a cornerstone to future integration with the European energy markets and required to build trust of public donors and private investors alike. To this end, NEURC must satisfy European standards,” it reads.
“At the same time, the authority of NEURC has been significantly strengthened by the adoption of the new legislation, in particular the REMIT Law, and will be extended with the implementation of the Clean Energy Package expected by the end of 2023,” the report says.
