Business news from Ukraine

UKRAINIAN PARLIAMENT PASSES LAW ON GREEN AUCTIONS FOR INVESTORS IN GREEN ENERGY

Ukrainian Parliament passes law on green auctions for investors in green energy
KYIV. April 25 (Interfax-Ukraine) – The Verkhovna Rada at a plenary session on Thursday passed bill No. 8449-d on green auctions for investors in renewable energy. A total of 251 lawmakers baked the bill amending some Ukrainian laws regarding ensuring competitive conditions for production of electricity from alternative energy facilities.
The document proposes the introduction of auctions from 2020 and the obligatory participation for investors in solar power plants with a capacity of more than 1 MW and wind farms with a capacity of more than 5 MW (or one turbine).
The pilot auction should be held no later than December 31, 2019, and the ProZorro electronic trading system is proposed to be the platform for the auctions. The period of granting a guaranteed tariff for transmission of electricity by the winner of the auction is 20 years.
The project assumes that the size of quotas to be put up for auction, according to the Cabinet of Ministers, is approved by the Ministry of Energy and Coal Industry. During the first three years it is planned to provide wind farms and solar power plants with 30% of quotas, after this period – at least 15%.
Responsibility of producers of renewable energy facilities for misbalances is proposed to be introduced after the intra-day market is recognized as liquid, but no later than 2024.
It is proposed to reduce the current feed-in tariff for solar power plants in 2020 by 25%, and in 2021-2023 – by 2.5% annually.
For wind farms with a capacity of more than 2 MW, the tariff is proposed to be reduced in 2020 by 10% without further annual reductions.
The tariff for energy generated from biomass and biogas is proposed to be maintained at the current level.
For household solar power plants, the tariff is planned to be reduced by 10% from 2020 (currently it is EUR 0.18 per kWh). Before the start of the voting, the deputies returned the amendment, which introduces the condition for its receipt, the installation of a solar power plant up to 50 kW on roofs, facades of buildings and other hard-wall facilities.

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LAW ON NATIONAL BUDGET FOR 2019 OFFICIALLY PUBLISHED IN HOLOS UKRAINY NEWSPAPER

The law on the national budget of Ukraine for 2019 (No. 2629-VIII) has been officially published in the Holos Ukrainy newspaper. According to the text of the law, the revenues of the national budget of Ukraine for 2019 are determined in the amount of UAH 1.026 trillion, in particular revenues of the general fund of the national budget in the amount of UAH 928.508 billion, and revenues of the special fund in the amount of UAH 97.624 billion, Appendix No. 1 to this law reads.
The expenses of the national budget of Ukraine are determined in the amount of UAH 1.112 trillion, in particular expenses of the general fund of the budget in the amount of UAH 1.006 trillion, and expenses of the special fund some UAH 106.362 billion.
Payment of loans to the national budget of Ukraine is provided in the amount of UAH 9.729 billion, in particular the repayment of loans to the general fund in the amount of UAH 8.322 billion, and to the special fund some UAH 1.406 billion.
The issue of loans from the national budget of Ukraine is determined in the amount of UAH 13.720 billion, in particular providing loans from the general fund in the amount of UAH 679.913 million, from the special fund some UAH 13.040 billion.
The ceiling of the national budget deficit is estimated at UAH 89.989 billion, in particular the ceiling deficit of the general fund at UAH 69.617 billion, and the ceiling deficit of the special fund of Ukraine’s national budget at UAH 20.372 billion, according to Appendix No. 2 to this law.

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PRESIDENT OF UKRAINE SIGNS LAW ON STATE BUDGET FOR 2019

President of Ukraine Petro Poroshenko said that he had signed the law on the state budget of Ukraine for 2019.
“I have signed a budget law,” the president said, speaking at the 2nd Ukrainian Women’s Congress in Kyiv on Friday.

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POROSHENKO SIGNS LAW ON RATIFICATION OF UKRAINE-EU MEMORANDUM ON EUR 1 BN IN MACROFINANCIAL ASSISTANCE

President Petro Poroshenko of Ukraine has signed the law on ratification of a memorandum of mutual understanding between Ukraine and the European Union on the allocation to Ukraine of macrofinancial assistance from the European Union to the tune of EUR 1 billion, the presidential website said. By implementing the memorandum, Ukraine will be able to receive additional funding from the EU to the tune of EUR 1 billion to be used for purposes stated in the national budget.
In order to receive each of the two tranches of the EU’s financial assistance to the tune of EUR 500 million each, Ukraine must meet certain conditions that have been agreed upon by the parties in such areas as tax and customs policy, fighting corrupting, small-scale privatization, management of state-run enterprises, corporate management in state-owned banks and banking supervision, and further reforms in power industry, health care, and social care.
As was earlier reported, the Verkhovna Rada ratified the memorandum on November 8, 2018.
The agreements were signed in Kyiv on September 14, 2018, following President Poroshenko’s earlier agreements with leaders of EU institutions as a result of the East Partnership Summit that took place in Brussels on November 23, 2017, and the 20th Ukraine-the EU summit that was held in Kyiv on July 9, 2018.

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NEW UKRAINIAN LAW ON STRENGTHENING FIGHT AGAINST COPYRIGHT VIOLATIONS COMES INTO EFFECT

Ukrainian President Petro Poroshenko has signed the law “On introducing changes to Article 5 of the law on Ukraine ‘On distribution of audiovisual products, audio recordings, video recordings, computer programs and databases.'” The bill strengthens existing ways to fight piracy and copyright violations. According to the president’s press service on Tuesday, the purpose of this law is to improve the process of marking with control stamps audiovisual works, audio/video recordings, computer programs, and databases. “Thanks to the increased transparency of the labeling process, right holders will be able to effectively control the process of issuing stamps and to counteract fraud and the unlawful use of these protective elements in a timely manner,” the press service said.
The president’s press service said implementation of the law will contribute to the creation of an additional mechanism to combat piracy and copyright violations.
As reported, on September 4, Ukraine’s Verkhovna Rada passed bill No. 4571, which introduces some changes in the procedure for issuing control stamps to audiovisual works, audio and video recordings, computer programs, and databases. According to the text of the bill, applications documents, including a list of named copies, must be submitted on paper and electronic media.
At the same time, the institution that deals with issuing control stamps, within three working days from the date of issue of such stamps, will publish on its official website a list of sample names of audiovisual works, audio/video recordings, computer programs and databases indicating the works recorded on these samples, as well as data on the applicant for which the decision was made to issue control stamps, as well as their quantity, series and control number.

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LAW ON PRINCIPLES FOR ORGANIC PRODUCTS PRODUCTION AND LABELING COMES INTO EFFECT IN UKRAINE

President of Ukraine Petro Poroshenko has signed the law on basic principles and requirements for organic production, circulation and labeling of organic products, the presidential press service has said. According to the report, the implementation of the norms of the law will ensure the improvement and harmonization of the Ukrainian legislation with the legislation of the European Union in the sphere of production and circulation of organic goods and will help create transparent business conditions, reduce unfair competition, increase the competitiveness of domestic organic products and expand foreign markets for its sale.
The law establishes the basic principles and requirements for organic production, circulation and labeling of organic products, the basis for the legal regulation of organic production, the circulation of organic products and the functioning of the market of such goods. The legal basis for the activity of central executive authorities, the subjects of the organic products market and the direction of state policy in these areas are also defined.
As reported, the Verkhovna Rada on July 10 at second reading and as a whole adopted law No. 5448-d on basic principles and requirements for organic production, circulation and labeling of organic products. Some 237 people’s deputies voted for the document with the quorum being 226 votes.

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