President Shavkat Mirziyoyev signed decree on July 6 approving the phased implementation of independent market regulators for areas related to the infrastructure of industries and natural monopolies.

This includes areas related to power, natural gas, railways, civil aviation, airport services, roads and telecommunications.

Until January 1, 2025, the functions of the Competition Committee in terms of the regulation and control of tariffs of natural monopoly entities should be gradually transferred to the independent market regulators that are to be set up.

Before 2024, it is planned to devise effective mechanisms for legal regulation of the activities of natural monopolies and tariff regulation. While, the decree instructed to ensure the regulation of their activities through independent regulators after an analysis of ongoing projects.

First Deputy Minister of Energy Azim Akhmedkhadjaev previously reported that by September 2023 Uzbekistan would present a new energy sector development program that would provide for the liberalization of gas and electricity prices and the introduction of social consumption norms. The experience of Azerbaijan, Turkey and European countries is being studied.

“As for the regulator, which will be independent, we are now studying a lot of good experience that exists in the world. For example, the experience that is now a new experience, for example, in Azerbaijan. We like the approach they have taken. They created a regulator, but this regulator is still working under the umbrella of the Ministry of Energy. Why? Because they are now studying, testing and seeing how it works. And then they will allow this regulator to be independent,” he noted.