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Rada adopts at first reading bill on implementation of REMIT regulation
KYIV. Sept 21 (Interfax-Ukraine) – The Verkhovna Rada, with 252 votes in favor, adopted at the first reading a bill on amendments to certain laws of Ukraine to prevent abuses in the wholesale energy markets.
Also, the parliamentarians with 244 votes in favor supported the reduction of the term for preparing the bill for the second reading.
The document is aimed at implementing Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency (REMIT).
"Ukraine, as a party to the Energy Community.., has undertaken to implement the Regulations in its adapted version. The developed bill is aimed at solving this problem," the explanatory note says.
With the adoption of the bill, its initiators expect, in particular, to establish a ban on manipulations in wholesale energy markets, as well as the responsibility of their participants and officials for manipulations, to introduce restrictions on the handling of insider information and sanctions for its illegal use, to regulate the powers of the NEURC, including on cooperation with the Energy Community Secretariat and the monitoring of activities in the markets, to detail the procedural issues of conducting investigations of abuses and the rights of the regulator in doing so.
