Energy Ministry: Creating transparent biofuels market to increase budget revenues

Energy Ministry: Creating transparent biofuels market to increase budget revenues

The bill on the creation of a single e-commerce system for solid biofuels will regulate the market situation and increase budget revenues.

"To develop the solid biofuels market trading, the Ministry of Energy and the State Agency on Energy Efficiency and Energy Saving drafted a bill which we hope will be considered by the Government in the near future. It aims, in particular, to create an e-commerce system for solid biofuels," Deputy Energy Minister Yulia Pidkomorna said at the launch of the project “Digitalization of Ukraine’s Centralized Heating Sector”, an Ukrinform correspondent reports.

According to her, the creation of a legal basis for the introduction of an e-commerce system in Ukraine will increase production and trade in solid biofuels, as well as set transparent market prices. The bill also provides for the introduction of administrative liability for violation of the requirements for trade in solid biofuels and approval of requirements for fuel quality.

"We believe that the adoption of the bill will help create a transparent and competitive market for biofuels in Ukraine, reduce prices and improve its quality, provide generating capacity with local raw materials, and also, which is very important, to increase budget revenues and attract foreign investment," the Deputy Energy Minister added.


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