17:27 - 7.04.2023

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April 7, Fineko/abc.az. The adoption of the new Law on Electric Power Industry should not be understood as an increase in prices.

ABC.AZ reports that Azerbaijani Energy Minister Parviz Shahbazov said this, when delivering speech at a meeting of the Parliamentary Committee on Natural Resources, Energy & Ecology.

"First of all, it should be noted that price liberalization is not envisaged at all in the near future, and prices will be regulated. After the market model is fully operational, it will also be regulated, since the transfer and distribution activities remain in the monopoly of the state. The competitive environment and the position of manufacturers offering cheap prices on the market will not allow raising wholesale prices and, as a result, retail prices," the minister added.