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USAID: New Ukrainian electrical energy market launched successfully

With USAID support and its project of energy security the market was opened in the way to minimize risks and avoid price shocks for the consumers
14:35, 11 July 2019

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The results of the first ten working days of the wholesale electrical energy market in Ukraine shows the success of the project. It is also a milestone in the holding of structural reforms of Ukraine as U. S. Agency for International Development (USAID) reported.

With USAID support and its project of energy safety, the market was opened in the way to minimize risks and avoid price shocks for consumers.

The agency emphasized that the concept of Safe mode, designed by the USAID’s project of energy safety experts, was introduced to the day-ahead market of bilateral treaties, namely intraday and balancing markets. This admitted to avoiding technical or financial difficulties as well as a negative influence on consumers from the start of its work to the full-time work of the market. Mechanisms of the safe mode will continue providing financial stability of the wholesale segment and guaranteeing that the influence on the consumers’ expenses is still under control.

Related: American parliamentarians invite Zelensky to hold speech at Congress session

Start of the market in Ukraine is a significant step in the transition to strong, competitive and fully integrated with the European scene.

“The main goal of USAID in the electrical energy sphere is to help to open and develop the new market. USAID gives technical service and recommendations based on experience data to aim the main target – to establish power exchange. The opening of the wholesale market has become an important step for Ukraine and now it is time to cooperate for the further development for the consumers,” Senior Energy Advisor of USAID Ukraine Sukru Bogut said.

Related: Russian PM Medvedev calls options to conclude gas contracts with Ukraine

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