Energy market development and regulatory agency of the Republic of Uzbekistan

Tashkent, 19 August 2024. The Energy Market Development and Regulation Agency of the Republic of Uzbekistan (EMDRA) and the Turkish energy market operator, Enerji Piyasaları İşletme A.Ş. (EPİAŞ), signed a Memorandum of Understanding.

At the meeting organized on this occasion, the parties discussed the prospects for developing the energy market and cooperation issues.

As noted by the Director of the Energy Market Development and Regulation Agency of the Republic of Uzbekistan, Sherzod Khodjayev, studying the Turkish experience and constant interaction are essential in creating a legal basis for this area in Uzbekistan.

“Türkiye’s experience in licensing the activities of participants in the energy market of Uzbekistan, regulating tariffs, and developing a methodology will have a good effect. In addition, it is important to establish an exchange of experience between experts and specialists, to study the innovative solutions used in EPİAŞ”, Mr. Khodjayev said.

At the meeting, Taha Meli Arvas, CEO of Enerji Piyasaları İşletme A.Ş., noted that the transition to an organized wholesale market is a crucial tool for countries to develop competition and investment in the sector.

“EPİAŞ is ready to share its experience in using energy markets with Uzbekistan. We support the introduction of a well-functioning electricity market model for the Central Asian region”, the head of the company said.