BAKU, Azerbaijan, Oct. 27
By Klavdiya Romakayeva - Trend:
Uzbekistan plans to continue modernization of power plant equipment, but not by attracting funds under state guarantees, as before, but at the expense of private sector, Trend reports referring to the press service of the president of Uzbekistan.
President of Uzbekistan Shavkat Mirziyoyev held a meeting on the priority tasks of transforming electric power enterprises.
To date, the wear of equipment at power plants in the country is more than 50 percent. Fuel consumption at old facilities is two times higher than at new combined cycle plants.
In this regard, the president stressed that it is necessary to continue modernization, but not by attracting funds under state guarantees, as before, but at the expense of private sector.
The National Electric Grids of Uzbekistan, regional electric grids, thermal power plants and Uzbekhidroenergo were instructed to switch to the preparation of financial statements in accordance with international standards to obtain an international credit rating and issue Eurobonds in the future.
Foreign experts will be recruited on the boards and supervisory boards of the enterprises to facilitate the transformation process.
The head of state noted that due to the lack of rules for the wholesale electricity market, long-term agreements on the purchase of energy at fixed prices are being concluded with investors.
He says that such an approach may lead to limited competition in the future and instructed to develop a document defining the stages and rules for the transition to a competitive electricity market.
In addition, Mirziyoyev instructed to accelerate the construction of new power plants in a number of regions and attract investments to them through public-private partnerships.
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