Foreign Experience in Reforming Regional Energy Markets
Romaniuk R. V.

Romaniuk, Roman V. (2020) “Foreign Experience in Reforming Regional Energy Markets.” The Problems of Economy 4:113–118.
https://doi.org/10.32983/2222-0712-2020-4-113-118

Section: Regional economy

UDC 330.354.1

Abstract:
Innovation and investment development is an important pre-requisite, to form competitive environment, improve the efficiency of economic entities and the liberalization process, in general. Foreign experience convincingly shows that liberalization processes in terms of radical adaptation of legislation, as well as stability, reliability and continuity of power supply (provided that the energy sector is demonopolized) are considered efficient if causing synergistic effect, making the performance of power supply business entities by times better than it used to be. The article studies the features of the transformation processes in the energy markets in the advanced countries and in Europe. A review of the criteria that formed the basis for the study has been carried out. The author identifies some consequences of the abovementioned reform of the regional energy sector markets, carried out by integrating the country’s industrial sector development. It is also mentioned that the specificity of territorial and climatic conditions should promote the search for and implementation of a model that would ensure the continuity and multi-functionality of national and regional energy markets. The stages of the reform have been monitored. The analysis of the implementation of the regulatory framework was focused on the following points: the differentiation of certain activities related to the transportation, production, purchase and sale of energy; unification of the single tariff for using energy resources on all the EU territories. It has been found out that the process of reforming the energy markets has no universal scenario that could accelerate these processes, as the transformation is only carried out under special conditions specific to a particular country. The experience of the advanced countries has shown that the consequences of the reform differ despite the application of the same models. It is noted that during the liberalization of energy markets, the EU countries primarily aimed at implementing regulatory instruments, and structurally divided them into 3 stages for the entire reformation period. The future scenario of reforming Ukraine’s energy market is outlined, taking into account the experience of the advanced countries with an emphasis on the following sectors: «the market of direct bilateral agreements», «futures market», «balancing market», «related market». The industry reform and its structural support have been monitored. The measures to be taken to reform the energy market are systematized in 4 groups: regulatory and legal, organizational and structural, financial and investment, technical and innovative measures.

Keywords: energy markets, transformation processes, competitive environment, demonopolization of the energy sector, European Commission, regulatory framework.

Bibl.: 14.

Romaniuk Roman V. – Director, Volyn Regional Employment Center (3 B. Khmelnytskoho Str., Lutsk, 43025, Ukraine)
Email: naukoviy@icloud.com

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