Law on ESCO came into force

newsThe Law # 327-VIII “On the introduction of new investment opportunities, guaranteeing the rights and legal interests for businesses within major energy modernization projects”. Text of the Law is available HERE in Ukrainian.

The purpose of the law is to create a legal framework for the introduction of new investment opportunities, ensuring the rights and legal interests of business entities while conducting a large-scale energy efficiency projects through the mechanism of energy services.

The law defines the concept of "energy services" and "energy service agreement", establishes basic conditions to regulate the relationship between the customer and the energy service providers; defines the mechanism for value assessment of services allowing budgetary institutions to be involved into one plus years long energy service contracts, secures payments for investors , the  exclusively monetary remuneration for savings achieved within the framework of an energy service contract; defines a transparent mechanism for the selection of the tender  winner for the provision of energy services.

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