(MENAFN- AzerNews) Azerbaijan's current law on the electric power industry does not
meet modern demands, Azerbaijani Energy Minister Parviz Shahbazov
said.
The official made the remarks during the discussions of a new
draft law "On the electric power industry" held at today's meeting
of the Committee of Azerbaijani Parliament for Natural Resources,
Energy and Ecology.
"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.
According to him, 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 the 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,"
the minister added.
He stressed that it will create favorable conditions for modern
areas of energy development, facilitating the rational use of
resources, declining the country's financial burden, and a
favorable environment for private investment.
Besides, the minister emphasized that liberalization of
electricity prices is not envisaged in the near future and the
tariffs will be regulated.
"Given that during the discussion of the bill, the deputies
asked most of the questions regarding electricity tariffs, the
adoption of the law should not mean an increase in prices," he
noted.
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