Zelenskyy signs law on restructuring FIT

Prime Minister of Ukraine Denys Shmyhal said that President of Ukraine Volodymyr Zelenskyy signed a law on improving the conditions for supporting the production of electricity from alternative energy sources.

“The President signed the draft law No.3658, which enshrines the key provisions of the government memorandum with producers of “green” energy. This law will reduce the tariff for solar power plants by 15%, and for wind power plants – by 7.5%,” he wrote.

He noted that in practice this means that the state and all Ukrainians will save almost UAH 7 billion annually. By 2030, the memorandum will make it possible to reduce the volume of payments for renewables by about €2 billion.

The signed law will help to balance the electricity market, protect the rights of investors and avoid an increase in electricity tariffs for people.

Recall that on July 21, the Verkhovna Rada of Ukraine supported in the second reading the draft law on Amendments to Certain Laws of Ukraine on Improving the Conditions for Supporting the Production of Electricity from Alternative Energy Sources (No.3658).

Tags: The Cabinet of Ministers, contracts, renewable energy, court, legislation, electricity, feed-in tariff, electricity market, foreign affairs, , debt, renewables, law, investments, investors, price, agreement, modernization, power system balance, ecology, decarbonisation, innovations, technologies, electricity transmission, Shmyhal, power system, Buslavets, The Ministry of Energy, economy, market, power grid

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