The Law of Ukraine “On the National Commission for Regulation of the Utility Services Market of Ukraine” was adopted by the Ukrainian Parliament and signed by the President of Ukraine.
Under the law, the National Commission for Regulation of the Utility Services Market of Ukraine will be established and granted with vast powers in licensing and tariffs formation and regulation. At the same time the Law has more of a declarative character. It is expected that further regulations with detailed procedures for execution of the powers will be adopted by the Ukrainian Government.
The Law will come in force only in six months. During the said period any inconsistencies in legislation should be removed.