PM to set a power price frame

The Ministry of Finance proposed that the Government sets the frame of retail power prices and forms a power price structure.

The Ministry of Finance (MoF) proposed that the Prime Minister revise the draft Law of Price, in which the Government sets the frame of retail power prices and forms a power price structure.
“The price frame for power generation, transmission, distribution and wholesale should be managed by the Ministry of Industry and Trade. This would enhance socio-economic development policies and the ability to pay for consumption in different groups of society," The ministry said.
 
The MoF explained that the proposal's aim is to develop the competitive power market. “Creating a price frame for will help prevent enterprises from colluding to set their own prices.”

The MoF also said that market forces will influence wholesale prices. This should mean that there will be more providers and consumers. The Government, they said, only needs to set the frame, and then allow enterprises determine their prices within that frame.