Energy market regulator being created in Uzbekistan

A presidential decree “On measures to implement the next stage of energy sector reform” was adopted.

According to the decree:

• “Uzenergosotish” JSC will be created, performing the functions of centralized purchase and sale of electricity;
• “National Electric Networks of Uzbekistan” JSC is appointed as the operator of a unified backbone electricity transmission system, specializing in the transportation and transit of electricity;
• the Agency for Development and Regulation of the Energy Market (energy market regulator) will be created.

From July 1, 2024, the function of centralized purchase and sale of electricity will be fully performed by “Uzenergosotish” JSC, and the function of operating main electrical networks will be performed by “National Electric Networks of Uzbekistan” JSC.

From January 1, 2025, the obligations of the “National Electric Networks of Uzbekistan” under contracts for the export and import of electricity, electricity purchase agreements signed with private power plants will be fully transferred to “Uzenergosotish” JSC.

Until January 1, 2025, contracts for the export and import of electricity of “National Electric Networks of Uzbekistan” JSC and electricity purchase agreements concluded with private power plants will be reissued to “Uzenergosotish” JSC.

By February 1, 2024, with the technical support of international financial institutions, a new methodology for setting electricity tariffs will be developed.

By May 1, 2024, a new procedure for transmitting electricity through the main electrical networks of the “National Electric Networks of Uzbekistan”, tariffs for the purchase and sale of electricity for “Uzenergosotish” and the distribution of funds received for electricity will be approved.