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 EU welcomes adoption of new law on Ukraine's energy and utilities regulator

The EU welcomes the adoption of the new Law on Energy and Utilities Regulator by the Verkhovna Rada of Ukraine.

Censor.NET reports citing the statement by the EU Delegation to Ukraine.

The statement reads: "The EU Delegation welcomes the adoption of a new Law on Energy and Utilities Regulator in line with the 3rd Energy package and adoption, in first reading, of a draft law on the Electricity market. These are very important steps towards reforming the energy market in Ukraine and facilitating growth of the entire economy.

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"The laws will create better mechanisms to protect consumer rights and reduce risks of corruption through higher transparency and market oriented pricing. They will ultimately lead to lower energy prices through increased competition and wider choice available for producers, businesses and final consumers. If adopted in the second reading, the Electricity market law in particular will facilitate the development of electricity market in Ukraine in line with the best European and global practices and open the doors for strategic investors.

"The European Union will continue its support for reform of the energy sector in Ukraine," the EU Delegation to Ukraine stressed.

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