Joint-stock companies Uzbekenergo and Uzbekneftegaz to be restructured

Shavkat Mirziyoyev signed a decree “On measures to organize the activities of the Ministry of Energy of the Republic of Uzbekistan”.

According to the document, a special commission for reforming the electricity industry in collaboration with the Ministry of Energy was tasked to develop models for reforming the electricity industry with preparing a detailed roadmap for implementing the proposed reforms by March 1, 2019 with technical assistance from the World Bank.

At the same time, by March 15, the above structures were instructed to prepare a draft presidential decree on restructuring the JSC Uzbekenergo in accordance with the modern scheme for organizing the production, transportation, distribution and marketing of electric energy.

In addition, by April 1, it was entrusted to prepare a draft presidential decree on restructuring the JSC Uzbekneftegaz providing for optimization of inefficient management structures, reorganization of oil and gas enterprises based on the profile of activities, attracting private, including foreign, direct investments in their development on a public-private partnership.

The presidential decree states that the restructuring the companies Uzbekneftegaz and Uzbekenergo should consider the formation of separate state-owned enterprises for operation and development of the principal gas transmitting system and primary electrical grids.