Law No. 588-II on the electric power industry.

The present Law regulates social relations emerging in the process of generation, transmission and usage of electric and heat energy. Governmental regulation in Electric Power Industry is aimed at: (i) maximum meeting the demand of electric energy customers and protection of the rights of the electric and heat energy market members (ii) provision of reliable and uninterruptible operation of the electric power complex; (iii) unified control of the electric energy complex. The Law consists of six Chapters divided into 25 articles dealing with the following matters: general provisions (Chapt. 1); governmental regulation in the electric power industry (Chapt. 2); system operator (Chapt. 3); power supply (Chapt. 4); operation of the electric energy facilities under emergencies (Chapt. 5) and final and transitional provisions (Chapt. 6). Governmental regulation objectives in the electric power industry are: (a) efficient functioning and development of the electric power complex on the basis of unity of management and competition development; (b) rational and economic use of electric and heat energy; (c) usage and development of renewable and non-conventional power sources; (d) protection of the environment; (e) energy supply to remote areas of the country; (f) establishment of standards for electric energy quality. Governmental regulation in the area of electric energy includes: (a) licensing; (b) supervision over reliability, safety and cost-effectiveness of electricity generation, transmission, system dispatching, and consumption; (c) technical and technological requirements set for generation, transmission, system dispatching and consumption of electric and heat energy.