ECONOMIC EFFECTS OF TECHNICAL REGULATION IN THE ENERGY SECTOR

Abstract

The article is devoted to substantiating the importance of the institute of technical regulation in the development of the economy and the effectiveness of expanding its application in the energy sector. Proceeding from this, a qualitative characteristic of the institutional system of technical regulation is given here, it is presented in an analytical perspective of world practice in this area, and it is emphasized that it provides GDP growth in a larger volume than tariff regulation. Taking into account these new qualities, the leading developed countries create their own institute of technical regulation and develop it, constantly optimizing it. The comprehensive development of the institute of technical regulation is considered as an urgent issue and a priority task of the state in the traditional oil country of the Republic of Azerbaijan, especially in its comprehensive development in the energy sector. It is indicated that, despite the creation of the necessary regulatory framework in this direction, as an appropriate regulatory mechanism, it is necessary to move widely to the stage of developing technical regulations in certain sectors of the economy. The coordinated and effective implementation of these works determines the formation of a unified strategy in this area, as well as the development of an appropriate state program.