BERC fixes power and fuel prices after a period of 90 days under the current law. The cabinet approved the proposed amendment so that the government can also change the price in special circumstances.
The argument argued that in view of the present world circumstances, it is necessary to adjust the price of electricity, gas and oil in line with the international market to ensure uninterrupted supply of power and energy. It has become necessary to amend the law to preserve the power of the Government as well as BERC with the objective of ensuring regular and prompt price adjustments while keeping the economy running.
Although the decision was taken in the context of the Russia–Ukraine War, the government did not clarify whether the powers would be revoked if the war ended. The whole matter is very complicated.
Although rules have been issued regarding price rates for transmission and distribution of natural gas and transmission and distribution of electricity (retail), no rules have been issued regarding petroleum product rates. In recent years, BERC fixed the prices of electricity and gas, but the government used to fix the prices of fuel oil and other petroleum products.