Page 7 - UKRRptJul19

2.0 Politics
2.1 Power market reforms delayed
The scenario of launching the new electricity market from July 1, as envisaged by current legislation, is possible, despite the fact that the most part of participants in a meeting of Ukraine's National Security and Defence Council (NSDC) believe that the date for launching the new electricity market should be postponed, according to the NSDC's secretary Oleksandr Danylyuk.
The new market should start functioning in July. Under new regulations, power producers will be allowed to sell their electricity by bilateral contracts with consumers, on a day-ahead market, an intraday market and a balancing market.
This new market model should replace the existing one, in, which power producers are selling their electricity to a single buyer, the state-controlled company, based on predetermined prices (either fixed explicitly, or determined by a formula).
According to the official, under the scenario of launching the new electricity market from July 1, all responsible structures are obliged to "work every day" to reduce its possible negative impact on the country's economy.
Danylyuk added that President Volodymyr Zelenskiy has granted two weeks to form a single position on the expediency of postponing the launch of the electricity market scheduled for July 1 and its consideration by the NSDC.
"Most of the participants agreed that the introduction of the law on the electricity market should be postponed. The question is for how long it should be postponed: for three months, for nine months, for 12 months. But there was also a position that there should be [respective] preparations as it will be eventually launched," Danylyuk added.
2.1 Ukraine won’t default on its IMF debt or denationalize Privatbank
Zelenskiy assures EU he won’t adhere to Kolomoisky on Privatbank,
default Visiting Brussels on June 4 in his first foreign working visit as president, Volodymyr Zelenskiy assured EU Commission Vice-President Valdis Dombrovskis that he is not considering the option of Ukraine defaulting its on international debt, the presidential administration reported. “Regarding default – these are rumors. These are orchestrated campaigns that have nothing to do with my official position,” Zelenskiy said in Brussels.
Recall, in late May, the Financial Times published an interview in, which tycoon Ihor Kolomoisky called upon the Ukrainian government to consider the option of defaulting on its international creditors. Kolomoisky is widely considered to have influence over Zelenskiy, having financed his election campaign, promoted his campaign on his 1+1 television network, having broadcast Zelenskiy's entertainment content, and having his personal lawyer, Andriy Bohdan, being appointed to head Zelenskiy's presidential administration.
During his visit, Zelenskiy also commented on the court attempts of
7 UKRAINE Country Report July 2019 www.intellinews.com