At a meeting on August 5, the Cabinet of Ministers of Ukraine has adopted a Resolution "On Amendments to the Regulations on Imposing Special Obligations on Electricity Market Participants to Ensure Public Interests in the Functioning of the Electricity Market".

According to the Prime Minister, the document stipulates for the formation of a new public service obligations (PSO) mechanism in the electricity market. That will help Ukrainian businesses get electricity at better prices and thus increase competitiveness.

"We are increasing the amount of electricity that the state-owned companies Energoatom and Ukrhydroenergo will be able to sell under bilateral agreements and in other market segments. In particular, that will improve the financial situation at these state-owned enterprises," commented Denys Shmyhal on the Government's decision.

The Prime Minister emphasized the Energoatom would further supply cheap electricity to all Ukrainian families.

"50% of the electricity generated by the company will be supplied for the needs of the population to minimize the final price. Meanwhile, the company will get an opportunity to sell about 40% of its electricity on market terms. "This will allow Energoatom to receive profits, pay salaries on time, and implement repair programs on time," the Prime Minister noted.