Tashkent – 19 August 2024. The Energy Market Development and Regulatory Agency of the Republic of Uzbekistan (EMDRA) and the Turkish energy exchange – Enerji Piyasaları İşletme A.Ş. (EPİAŞ) today signed a Memorandum of Understanding to underline their joint commitment in developing the energy markets in Uzbekistan.

Khodjayev Sherzod Khikmatullaevich, Director of EMDRA, says: “Continuous cooperation between our countries creates an opportunity of learning the experience of Turkiye in the field of energy market which is an important step in creating the legal basis for the development of the energy market in Uzbekistan. Also, it is important to exchange experience between experts and specialists about the innovative solutions used in energy markets.”.

Taha Meli Arvas, CEO of EPİAŞ, says: “Transition to organized wholesale market is a crucial tool in allowing countries to promote competition and investments in the electricity market. As energy exchange of Türkiye, EPİAŞ is ready to share its experience in the development and operation of energy markets in Uzbekistan and we are committed to support the development and implementation of a well-functioning electricity market that will be a model for the Central Asia Region. I believe that our new journey with EMDRA will greatly contribute to our joint goal of establishing an effective and efficient electricity market in Uzbekistan, compatible with best practices.”.

The Energy Market Development and Regulatory Agency of the Republic of Uzbekistan (EMDRA) has begun cooperation in strategically important areas with such international financial institutions as the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the US Agency for International Development and the French Development Agency as well as international counterparts in Türkiye and others. This cooperation provides an opportunity to interact with international experts with different experiences in shaping the energy market structure of Uzbekistan in order to ensure uninterrupted and secure supply for industry and population with the necessary energy resources, as well as increase the attractiveness of the energy sector for private investors, including foreign ones.

More information: https://gov.uz/emdra/

Enerji Piyasaları İşletme A.Ş. (EPİAŞ) is the energy exchange of Türkiye which operates power, natural gas and environmental markets by providing reliable and transparent market conditions. Moreover, as a central counterparty EPİAŞ is responsible for financial settlement and invoicing services. EPİAŞ also operates renewable energy guarantees of origin registry system. More information: www.epias.com.tr/en