No sharp jumps are expected in energy tariffs in Uzbekistan, the Minister of Economy and Industry Botir Khodjayev told reporters.

 “I think, no sharp increase is expected,” he said, stressing that the fuel and energy complex (FEC) should remain profitable.

“We, first of all, speak about the level of tariffs that provides investment attractiveness. It is no secret that in the 90s, the state was the main investor in the fuel and energy sector, or the projects were financed under the state guarantee. We must create conditions under which private business could also participate in the creation of new capacities,” the minister explained.

Earlier, the Minister of Energy of Uzbekistan Alisher Sultanov, at an interview with Kun.uz, said that the state, over time, will cease regulating electricity tariffs.

It is expected that until 2023, the tariff setting methodology should be introduced in stages, and from 2023, the established electricity tariffs will remain unchanged for at least three years.