The Ministry of Energy proposes to conduct calculations with investors in foreign currency to attract investments in the energy sector.
According to information voiced by Deputy Minister of Energy Altynbek Rysbekov at a meeting of the Jogorku Kenesh committee, the volume of electricity generated in Kyrgyzstan continues to grow, but consumption is increasing even faster.
Currently, approximately 14.5 billion kilowatt-hours are generated in the country, while the demand reaches almost 20 billion kWh, leading to a deficit in the range of 3.3–4 billion kWh. By 2025, the republic will be forced to purchase 4.5 billion kWh of electricity from Turkmenistan, Uzbekistan, Kazakhstan, and Russia.
The electricity deficit is attributed to population growth and economic activity, as well as the emergence of new facilities.
In response to this situation, the Ministry of Energy has presented a draft law to the Jogorku Kenesh, which proposes allowing calculations in foreign currency for investment projects and public-private partnerships in the energy sector.
Currently, the tariffs at which the state purchases electricity from investors working in the field of renewable energy sources (RES) are set by the Cabinet of Ministers in the national currency and do not depend on exchange rates. The only exceptions are transactions for the import and export of electricity.
According to the proposed draft law, it is planned to allow the establishment of prices in foreign currency, which, according to the Ministry of Energy, should positively affect the attraction of foreign capital.
Local investors have also expressed a desire to receive similar conditions as foreign companies.
It is noted that currently the state purchases electricity at a tariff of 4.2 soms per kilowatt-hour. The project stipulates that this tariff will be in effect for 15 years, after which it will be subject to revision.
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