The Verkhovna Rada has passed on first reading a draft law to enhance the mechanism for auctions distributing renewable energy quotas, according to MP Yaroslav Zhelezniak of the Holos parliamentary faction. This development comes as part of Ukraine’s broader strategy to accelerate its transition to a low-carbon economy, in line with international climate commitments.
The proposed legislation aims to improve transparency, efficiency, and fairness in the allocation of renewable energy quotas through competitive bidding processes. By refining the green auction mechanism, Ukraine seeks to attract more private investment in renewable energy projects, which is essential for achieving its renewable energy targets and reducing reliance on fossil fuels.
MP Zhelezniak emphasized that the reform is a critical step towards ensuring a stable and competitive energy market, which will benefit both consumers and producers. The passage of the bill on first reading signals that the initiative has gained significant support within the parliament, paving the way for further discussions and potential legislative action in the coming months.
With the global shift towards clean energy, Ukraine’s efforts to modernize its energy auction system are seen as a positive development. The successful implementation of this reform is expected to contribute to the country’s energy security and its ability to meet international climate goals, such as those outlined in the Paris Agreement.