Ulaanbaatar
Law on Energy of Mongolia to be Amended
Politics
Ulaanbaatar, August 21, 2024 /MONTSAME/. At the
regular session of the Cabinet of Mongolia on August 21, 2024, Dorjkhand
Togmid, Deputy Prime Minister of Mongolia and Chairman of the Subcommittee for
Energy Sector Investments, Tariff Reforms, and Mega Projects, presented the
reforms and changes in the energy sector.
To create a favorable environment for drawing investment to
the energy sector, implement mega source projects, and transform state-owned
companies into open joint-stock companies by improving their governance and
transparency, the relevant ministers were instructed to develop draft
amendments to the Law on Energy and relevant laws, which are currently serving
in the energy sector and submit to the Cabinet meeting for discussion.
The Mongolian Government's priorities reflect goals of
supporting the investment environment in the energy sector, implementing
large-scale energy mega projects, gradually increasing tariffs to achieve full
cost recovery, and further indexing, as well as transforming state-owned
companies into open joint-stock companies. To accomplish these tasks, a
Sub-Committee has been established, comprising members of the Parliament, the
Government, NGOs in the energy sector, and the private sector.
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