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A lot of time has passed since the adoption of the current law “On Electric Power Industry”, today it does not meet modern requirements, the Azerbaijani Energy Minister Parviz Shahbazov said at a meeting of the Committee on Natural Resources, Energy and Ecology of the Milli Majlis, where the draft law “On Electric Power Industry” was discussed in the third reading on April 7. “According to the presidential decree, measures are being taken to attract private investment in the production of electricity from renewable or traditional energy sources. Although a favorable investment environment for investors has been formed in our country, experience shows that the lack of an electricity market is one of the main factors complicating the implementation of these tasks,’ Shahbazov explained. The minister said that the law is not aimed at raising tariffs. According to him, the state itself will decide what the tariff should be. “The results of the law should manifest themselves in 5 years. In order to develop, we need to improve legislation,” Shahbazov said. It is assumed that the new law will be phased in by the end of 2028. During the transition period, consisting of 3 stages, the main reforms provide for the gradual separation of activities for the generation, transmission, and distribution of electricity. This will ultimately allow for transparent and equitable use of electric networks by all those engaged in the field of production and sales. As a result, it is planned to liberalize the electricity market of Azerbaijan
Source: Turan News Agency
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