REUTERS
The amendments to the relevant document were introduced today, August 14.
Ukraine's Cabinet of Ministers at a meeting on Wednesday, Aug 14, amended the resolution on public service obligations (PSOs) in the country's electricity market to reduce the price of electricity for industrial consumers.
The relevant decision was voiced by Prime Minister Volodymyr Groysman, according to an UNIAN correspondent.
The Prime Minister also instructed the energy regulator to review the tariffs for the distribution and supply of electricity in order to reduce them.
Groysman admitted that further amendments could be introduced to the PSOs during the next government meeting.
Ukrainian Energy and Coal Industry Minister Ihor Nasalyk earlier said the amendments into the PSOs will enable major consumers of electricity, in particular those in steelmaking and ferroalloys industry, etc., to have electricity prices reduced significantly.
As UNIAN reported earlier, a new electricity market was launched in Ukraine on July 1 under the Electricity Market Law, the draft of which was passed by the Verkhovna Rada, Ukraine's parliament, in April 2017. The law provides for the introduction of more competitive relations in the energy market, and meets the requirements of the European Union's Third Energy Package.