Ukraine has joined to the Energy Community

The Verkhovna Rada ratified the protocol on Ukraine's joining to the Treaty establishing the Energy Community. For the bill (№ 0198 from November 19, 2010) initiated by the President of Ukraine Viktor Yanukovich have voted 371 of 394 deputies registered in the session hall.

Adopted act provides the entry into force of the Protocol on Ukraine's accession to the Treaty establishing the Energy Community, signed on September 24, 2010 in Skopje (Macedonia).

Implementing regulations of the European energy legislation will facilitate access of Ukrainian exporters to energy markets in Europe, will enable direct access to end-users, will avoid mediation, will create market conditions in the energy sector of the economy that will attract investment to expand capacity and improve existing energy infrastructure, promote the further development and integration of Ukrainian energy networks to the European system.

Ukraine's membership in the Energy Community provides for the payment of contributions to the budget of the Energy Community in accordance with Article 73 of the Treaty and Article 3 of the protocol, reports RBC-Ukraine.

The methodology for determining payment based on calculating the relative proportion of gross domestic product and total supply of primary energy resources. Compliance with the request of the project needs a cost from the state budget of Ukraine.

Recall the above bill President of Ukraine Viktor Yanukovych introduced to the Verkhovna Rada of Ukraine on November 19.