The National Commission for State Regulation of Energy and Public Utilities (NEURC) has adopted a comprehensive plan to update the regulatory framework in the electricity sector in accordance with European Union standards.
This is reported by Finway
Key areas for energy market updates
The adopted document contains over 200 measures aimed at harmonizing the Ukrainian energy market with European operational rules. Among the main tasks are the implementation of the market coupling mechanism, the development of interstate balancing systems, and the introduction of mechanisms for capacity provision, flexibility services, aggregation, and demand management.
“The document includes over 200 measures for the comprehensive update of the regulatory framework in the electricity sector in accordance with European energy market operational rules. Key areas include the implementation of the market coupling mechanism, the development of interstate balancing, capacity provision mechanisms, flexibility services, aggregation, and demand management.”
The implementation of this plan aims to ensure further integration of the Ukrainian electricity market into the European energy space, as well as the fulfillment of the country’s Euro-integration commitments.
Next steps towards integration with the European market
NEURC continues to develop new mechanisms for the functioning of the integrated electricity market in accordance with EU legislation. In particular, at the end of April, the commission approved the draft Order for the appointment of a nominated electricity market operator, which is currently undergoing public discussion.
On April 20, President of Ukraine Volodymyr Zelensky signed a law that facilitates the implementation of European Union norms and the integration of energy markets. The adopted law lays the groundwork for the merging of “day-ahead” and intraday markets with European trading zones, which will allow for effective and coordinated electricity trading.
In addition, the implementation of the European risk readiness model in the electricity sector is planned, as well as the launch of capacity provision mechanisms. Special attention is paid to regulating the interaction between the transmission system operator and the market operator to establish cross-border electricity exchange.