Under the chairmanship of Azerbaijan’s Energy Minister Parviz Shahbazov, the first meeting of the Coordinating Council was held for the purpose of implementing the "Action Plan on Phased Implementation of Electricity Market Elements" approved by the relevant Decree of the Cabinet of Ministers, Azernews reports, citing the Energy Ministry.

The Ministry noted that in his speech, the minister stated that the main directions of the reforms were determined by the Decree of the President of the Republic of Azerbaijan dated May 29, 2019 No. 1209 "On accelerating reforms in the energy sector of the Republic of Azerbaijan" and that relevant work is being carried out in accordance with these directions. It was emphasized that the main goal of reforms in the field of electric energy is to continuously strengthen energy security, develop management systems in terms of advanced international practice, attract private investments and reduce the financial burden of the state. Also, optimization of electricity production costs, further improvement of efficiency and service quality, as well as ensuring a competitive environment were mentioned as the main priorities for the development of the sector.

Then, in accordance with the agenda of the meeting, information about the work done by the relevant institutions in connection with the implementation of the Law of the Republic of Azerbaijan "On Electric Power" and the "Action Plan on Phased Implementation of Electricity Market Elements" was brought to attention.

Under the Coordinating Council, sub-working groups were formed in relevant directions, the work to be done for the upcoming period was determined, and relevant decisions were made.

Representatives of the Ministries of Energy, Economy, Finance, Justice, Azerbaijan Investment Holding, "Azerenergy" OJSC, "Azerishiq" OJSC and Energy Regulatory Agency took part in the meeting.