Tashkent, Uzbekistan (UzDaily.com) -- The Legislative Chamber of the Oliy Majlis approved the bill “On Electricity Industry” in the first reading.

The bill aims to protect the interests of consumers in relation to prices, reliability of electricity supply and quality of service, as well as to create a liquid electricity market free of serious barriers to sale. It provides support for the development of an efficient, transparent, non-discriminatory and competitive energy market.

The bill defines new basic concepts, participants in the wholesale and retail electricity markets, and also creates a system based on competition.

The principles of legality, fair competition, equality and accountability, openness and transparency have been introduced. A new article on the goals of the electric power industry has been introduced.

The bill establishes rules for competitive wholesale and retail electricity markets, focused on promoting healthy competition in price setting, leveraging supply and demand, and reducing the use of fossil resources. The regulator (Agency for Development and Regulation of the Energy Market of the Republic of Uzbekistan) develops these rules, which are approved by the Cabinet of Ministers.

General rules have been introduced to regulate the activities of traders in the electricity market, as well as rules regarding their rights and obligations.

The adoption of the bill will contribute to the development of industry, economic growth and improvement of the well-being of the population of the Republic of Uzbekistan. It aims to create a reliable, safe and sustainable electricity supply system.

During the discussions, deputies emphasized the importance of the bill and expressed their opinion on its provisions, offering a number of recommendations for its further improvement. After a long debate, the bill was adopted by deputies in the first reading.