(MENAFN- Trend News Agency) First published April 7, 17:25
BAKU, Azerbaijan, April 7. Azerbaijan's current
law on the electric power industry does not meet modern demands,
Azerbaijan's Energy Minister Parviz Shahbazov said during the
discussions of a new draft law "On the electric power industry"
held at today's meeting of the Committee of Azerbaijan's Milli
Majlis (Parliament) for Natural Resources, Energy and Ecology,
trend reports.
"Currently, we are observing very serious transformational
processes in the energy system on a global scale, countries of the
world are intensely carrying out energy transition processes,
implementing development models that responds to today's
challenges," the minister said.
As he noted, the action plan of the“Strategy for Socio-Economic
Development for 2022-2026”, approved by the relevant decree of the
head of state, covers the issues of production, transmission,
distribution and power supply. At the same time, this plan
encompasses promotion of the activities of independent supply
entities, and applying market-based principles in general with the
formation of the necessary regulatory environment. The main aim is
to provide citizens with affordable, reliable, high-quality and
sustainable electricity.
According to the minister, this will create favorable conditions
for modern areas of energy development, facilitating the rational
use of resources, declining country's financial burden, and a
favorable environment for private investment.
MENAFN08042023000187011040ID1105964888
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment