The launch of a new electricity market in Ukraine was successful, – USAID

Запуск нового рынка электроэнергии в Украине прошел успешно, - USAID

The results of the first 10 days of operation of the wholesale electricity market in Ukraine prove that market launch was successful. This is a key milestone in the implementation of structural reforms in Ukraine. This statement was made by USAID on the results of the round table “the First steps of the new electricity market. Challenges, risks and ways of their solution”.

With the support of USAID and its Project of energy security, the market was open, therefore, to minimize risks and to avoid price shocks to consumers.

The concept of “Safe mode” by experts of the USAID Project of energy security, was introduced to the market of bilateral contracts, “day ahead”, vnutrikletochnogo and balancing. It is possible to avoid financial or technical complications as well as negative impact on consumers during the period from the start of the market prior to its full operation. Mechanisms of “safe mode” will continue to ensure the financial stability of the wholesale segment and to ensure that the impact on energy consumers will remain controllable.

Market launch is a big step in Ukraine’s transition to a strong, competitive and fully integrated with the European market.

“The main goal of USAID in the electricity sector is to promote the discovery and development of a new market. USAID provides technical assistance and recommendations based on actual data, with the main goal – establishing an energy stock exchange. In this regard, an important step for Ukraine was the opening of the wholesale market, and now it is time to work together on further promotion for the benefit of consumers,”? noted the Sukru Bogut, senior Advisor to the USAID Ukraine USAID Ukraine on energy issues.