The Board of the Energy Regulatory Office (ERO) has met with a mission from the International Monetary Fund. In a statement published on Facebook, ERO said that the meeting discussed key developments in the electricity sector, with a focus on the market liberalization process, energy projects, and tariff regulatory processes.
KESCO has proposed an electricity price increase of 21.3%. The decision is expected to be taken in March, while the new tariffs would enter into force in April.
“ERO presented the progress of the market liberalization phases, emphasizing that despite challenges and delays, the first phase is being implemented successfully and that the process will continue gradually and sustainably, in line with the legal framework and the principles of an open market. The development of renewable energy projects and investments in the transmission and distribution network were also discussed, with the aim of safely integrating these capacities into the power system. Within the tariff review process, the impact of operational costs, the aging of the network, technical losses, and outages of generation units on electricity tariffs was addressed,” the statement said.
Furthermore, ERO reiterated its role as an independent regulatory institution in guaranteeing regulatory stability and legal certainty as key factors for economic development and attracting investments, as well as its commitment to continued cooperation with international partners.
