President Shavkat Mirziyoyev instructed to develop a document defining the stages and rules for the transition to a competitive electricity market. Long-term agreements on the purchase of energy at fixed prices are currently being concluded with investors.
President of Uzbekistan Shavkat Mirziyoyev October 26 held a meeting on the priorities of the transformation of electric utilities, informed the press service of the head of state.
As noted in the message, today the wear and tear of equipment at power plants in the country is more than 50%. Fuel consumption at old facilities is 2 times higher than at new combined cycle plants. In this regard, the President stressed that it is necessary to continue modernization, but not by attracting funds under state guarantees, as before, but at the expense of private capital.
The National Electric Grids of Uzbekistan, Regional Electric Grids, Thermal Power Plants and Uzbekgidroenergo were instructed to switch to the preparation of financial statements in accordance with international standards to obtain an international credit rating and issue Eurobonds in the future. Foreign experts will be recruited on the boards and supervisory boards of the enterprises to facilitate the transformation process.
The head of state noted that due to the lack of rules for the wholesale electricity market, long-term agreements on the purchase of energy at fixed prices are being concluded with investors. In the future, such an approach may lead to limited competition, the president said. He instructed to develop a document defining the stages and rules for the transition to a competitive electricity market.
Shavkat Mirziyoyev also instructed to accelerate the construction of new power plants in a number of regions and attract investments to them through public-private partnerships.
