A new edition of the Law “On Electricity” is being developed in Uzbekistan based on existing international experience with the assistance of the Ministry of Energy and the European Bank for Reconstruction and Development (the “EBRD”). This Law is supposed to be considered by the Cabinet of Ministers by the end of May 2020. Both local and foreign highly-qualified specialists in the field of energy, including specialists from the UK, Georgia, Austria, Bulgaria and Italy, are involved in the drafting of the Law.
The Ministry of Energy, along with the Asian Development Bank and the World Bank, has begun to develop a model for a competitive electricity market. Foreign experts have also assisted with the development of the model, while the transition to this market is planned to start from 2023. The concept of the market model is supposed to be considered by the Cabinet of Ministers at the end of March of this year.
In addition to the above, it is planned to develop and implement the Electricity Code (the "Code"), which the Ministry of Energy is developing jointly with the World Bank whilst engaging foreign specialists from Serbia and the UK. The new Code is being developed to systematize the rights and obligations of energy companies and electricity consumers. The draft Code is supposed to be considered by the Cabinet of Ministers at the end of May 2020.