Moldovan government approves amendments to oil market law

20:44 | 07.09.2016 Category: Official

Chisinau, 7 September /MOLDPRES/ – The Cabinet of Ministers today approved a bill to amend Law no.461-XV of 30 July 2001 on the oil market.

According to the government’s communication and media relations department, it includes the adjustment mechanism for pricing of retail trade in liquefied gas, assigning the competence of the National Agency for Energy Regulation (ANRE) possess prerogative to adjust and specify every two weeks, retail ceiling price of liquid gas, depending on international prices.

Amendments and additions proposed, change essentially the concept of the current law on the petroleum products market, in respect of liquefied gas trade prices and grant additional powers to ANRE in this regard by introducing pricing mechanism of liquefied gas based on its price cap retail.

The amendments proposed by the Government will have immediate effects both on consumers, as well as business environment by limiting abusive practices in liquefied gas pricing, while excluding existing gaps in the competitive environment, all in perspective is oriented loyal market liberalization based exclusively on market economy principles.

At the end of August this year, Prime Minister Pavel Filip asked the Ministry of Economy to develop and submit for approval to the bill on the return of the price cap mechanism for retail sale of LPG.

The document is to be presented to Parliament for adoption.

(Editor A. Raileanu)

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