The Verkhovna Rada of Ukraine has supported bill No. 12087-d in its first reading, which establishes the legal framework for the gradual integration of the Ukrainian electricity market with the single energy space of the European Union. The document has been developed in accordance with nine key EU regulations governing energy markets and provides for the adaptation of Ukrainian legislation to European standards.
This is reported by Business • Media
Key Changes for Ukraine’s Energy Market
The introduction of this bill aims to create a transparent, competitive, and secure environment for all participants in the electricity market. One of the main innovations will be the principle of reciprocity, which will grant Ukrainian companies the same access to the EU market as European participants have to the Ukrainian market.
Expected Outcomes from the Innovations
“The implementation of the provisions of the draft law will contribute to: providing new opportunities for Ukrainian businesses; integrating the spot markets of Ukraine and the EU; increasing market liquidity; simplifying electricity trading with the EU; more efficient use of cross-border interconnections; and enhancing the flexibility of the energy system.”
It is anticipated that the implementation of the proposed changes will open new prospects for Ukraine, including expanding opportunities for business, improving conditions for electricity trading, as well as increasing the liquidity and flexibility of the energy system. An important component will also be the integration of the spot markets of Ukraine and the EU, which will allow for more efficient use of cross-border energy interconnections.