President has got NERC under

According to the Presidential Decree № 1057/2011 from 11/23/11 National Electricity Regulatory Commission of Ukraine had been liquidated.

Sergei Titenko was appointed the Chairman of the Liquidation committee.

According to another Decree № 1059/2011 from 23/11/11 National Commission exercising the state regulation of the power industry (the official abbreviation - NERC) was established and the Regulations of the Commission were approved.

NERC is created as a collegial body subordinate to the President and accountable to the Verkhovna Rada.

In accordance with its tasks NERC is responsible for:
• licensing business activities in the fields of electricity, heat, oil and gas sector, to issue licenses entitling to realise activities such as:
• production of electricity in volumes exceeding the amount specified in license conditions;
• combined heat and power production;
• transmission and delivery of electricity;
• thermal power generation at HES and plants using unconventional or renewable energy;
• transportation of oil, oil products by trunk pipelines, transportation of natural, oil gas and gas (methane) of coal deposits by the pipelines and its distribution;
• delivery of natural gas, gas (methane) of coal deposits on regulated and unregulated tariffs;
• storage of natural gas, gas (methane) of coal deposits in volumes exceeding the amount specified in license condition.