Ukraine Energy Market Observatory
In an effort to streamline and consolidate its monitoring functions under the Energy Community Treaty with regard to Ukraine, the Energy Community’s largest member currently suffering from a war of aggression by the Russian Federation, the Secretariat created the Ukraine Energy Market Observatory. The Observatory will closely follow and review all developments related to the energy market and corporate governance in Ukraine. In full respect of confidentiality requirements, the assessments will be published and made available to domestic and international stakeholders involved. This will support the further integration of the Ukrainian energy sector with Europe and help building trust in a predictable and transparent governance in line with European practices.
In performing its tasks, the Ukraine Energy Market Observatory relies on all available sources of information. All stakeholders are invited to contribute to the reporting by submitting information to the Secretariat. Full confidentiality of your submission is ensured by the Energy Community Secretariat.
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Supporting market reforms under martial law
- Measures intervening in the market governance for electricity and gas are constantly taken by various Ukrainian authorities under martial law. The same goes for the corporate governance of state-owned undertakings, including the transmission system operators. While there may be understandable reasons for each of these interventions, taken together they risk shifting the governance of the energy sectors in Ukraine further away from the European model and may back-slide from the previous achievements. Some of the recent interventions are not limited in time to the expiry of martial law.
- Under the conditions of war and martial law, transparency has been drastically decreasing. What is more, it can be observed that the domestic institutions mandated to monitor the development – such as the energy regulator – can fulfill their tasks only to a limited extent. The Secretariat has already signed a memorandum of understanding with the regulator meant to improve the cooperation between both institutions when it comes to designing public service obligations in a manner compliant with the acquis.
- The increased oversight by and involvement of the Secretariat can be fed into existing processes such as the High Level Dialogue on Electricity led by the European Commission (DG ENER). It will be crucial also for the reconstruction of the Ukraine energy sector, where the success of the support provided by public donors and private investors alike will depend not only on clear and unbiased monitoring of the market development but also on Ukrainian authorities and companies living up to their commitments. With its responsibilities under the Treaty and as part of TeamEurope, the Secretariat is best placed to fulfil the function of an independent monitoring and compliance assessment institution. In this capacity, it will support the Donor Coordination Platform currently established in the G7+ format by the European Commission.
This will also benefit Ukraine’s full integration in the European energy markets and systems, and facilitate the country’s path towards full EU accession.
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Activities of the Ukraine Energy Market Observatory
The Ukraine Energy Market Observatory will be established within the Secretariat under the coordination of the Director and Deputy Director. It will not require new resources but focus the activities by the Secretariat, with the full involvement of its Kyiv office, on
- Systematic monitoring and reporting on all energy-market data and developments, including but not limited to the activities of authorities and companies. This will include the publication of quarterly reports;
- Systematic assessment and communication of compliance of all measures taken (ex ante and ex post) with the Energy Community acquis;
- Recommendations to Ukrainian authorities for further improving of their reform efforts and maintaining commitments, to be made available to international stakeholders engaged in support to Ukraine;
- Mediation of disputes under the auspices of the Secretariat’s Dispute Resolution and Negotiation Center, based on the experience gained in the renewable energy sector up[on request by investors and other domestic and international stakeholders;
- Supporting the activities enhancing further integration with neighbouring countries (including Moldova) and systems (with an imminent focus on cross-border capacity allocation and the transmission system operators’ full membership in ENTSO-E and ENTSOG);
- Any other activities agreed upon with Ukrainian authorities and international stakeholders.
Deliverables
04 December 2024: Assessment Note 18/2024
15 October 2024: Assessment Note 16/2024
10 July 2024: Assessment Note 11/2024
21 June 2024: Assessment Note 10/2024
PURPOSE STATEMENT
Assessment of the “Procedure (methodology) determining the amount of penalties imposed by the National Energy and Utilities Regulatory Commission” adopted according to the Law of Ukraine “On Amendments to some laws of Ukraine regarding the prevention of abuse in the wholesale energy markets” of June 10, 2023 No. 3141-IX. |
21 June 2024: Assessment Note 09/2024
PURPOSE STATEMENT
Assessment of the Procedure for issuance, circulation, and cancellation of guarantees of origin of electrical energy produced from renewable energy source adopted by the Resolution of the Cabinet of Ministers of Ukraine No. 227 “On the introduction of guarantees of origin of electricity produced from renewable energy sources” of 27 February 2024. |
21 June 2024: Assessment Note 08/2024
PURPOSE STATEMENT
Assessment of compliance of the Law of Ukraine No 3220-IX dated 30 June 2023 “On making changes to some laws of Ukraine regarding restoration and “green” transformation of the power system of Ukraine” with the Energy Community acquis. |
25 April 2024: Assessment Note 07/2024
PURPOSE STATEMENT
Assessment of the Procedure for registration of wholesale energy market participants, approved by the Resolution of the National Energy and Utilities Regulatory Commission No. 1812 of 04 October 2023 according to the Law of Ukraine “On Amendments to some laws of Ukraine regarding the prevention of abuse in the wholesale energy markets” (hereinafter - the “REMIT Law”). |
24 April 2024: Assessment Note 06/2024
PURPOSE STATEMENT
Assessment of draft amendments to Resolution of the National Energy and Utilities Regulatory Commission on marginal prices in the day-ahead market, intraday market and balancing market (No 2099 of 9 November 2023) as to cancelling price caps in the DAM and IDM. |
24 April 2024: Assessment Note 05/2024
PURPOSE STATEMENT Assessment of regulatory-related risks related to storing gas in Ukraine by foreign traders and measures aimed at their reduction and mitigation |
27 March 2024: Assessment Note 04/2024
PURPOSE STATEMENT Assessment of the NEURC draft Resolution “On Approval of Amendments to the Transmission System Code”, transposing into Ukrainian legislation the Commission Regulation (EU) 2017/1485 of 2 August 2017 establishing a guideline on electricity transmission system operation (SO GL) and Commission Regulation (EU) 2017/2196 of 24 November 2017 establishing a network code on electricity emergency and restoration (ER NC) as adapted and adopted by Ministerial Decision 2021/13/MC-EnC. |
20 March 2024: Assessment Note 03/2024
PURPOSE STATEMENT Assessment of the draft amendments to the provisions of the Gas Storage Code published by the national regulatory authority of Ukraine, NEURC, for public consultations on 20 February 2024. |
19 March 2024: Assessment Note 02/2024
PURPOSE STATEMENT Assessment of the draft Law of Ukraine ”On Projects of National Interest in the Energy Sector”, No 9138, transposing into Ukrainian legislation provisions of the Regulation (EU) 347/2013 on guidelines for trans-European energy infrastructure. |
24 January 2024: Assessment Note 01/2024
PURPOSE STATEMENT High level assessment of the status quo of the Ukraine’s gas market and recommendations for its sound improvement and structural transformation. |
Quartely reports
Quarterly Reports
PURPOSE STATEMENT In January 2023, the Energy Community Secretariat established the Ukraine Energy Market Observatory to streamline and consolidate its monitoring functions under the Energy Community Treaty with regard to Ukraine and its commitments. A half a year later, the Secretariat released the first quarterly Ukraine Energy Market Observatory report. The quarterly reports summarize the activities under the Observatory for the given reporting period. |
Filters:
Document Name | Countries | Categories | Published on |
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Ukraine |
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21.08.2023
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Ukraine |
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29.12.2023
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Ukraine |
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30.04.2024
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Ukraine |
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19.06.2023
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20 December 2023: Assessment Note 20/2023
PURPOSE STATEMENT Assessment of the amendments, adopted by the Resolutions of Cabinet of Ministers of Ukraine No 544 of 30 May 2023 to the Resolution of the Cabinet of Ministers of Ukraine No. 483 of 5 June 2019 “On the approval of the Regulation on the imposition of special obligations on the electricity market participants to ensure the general public interests in the process of functioning of the electricity market” as regards the new electricity prices for households. |
18 December 2023: Assessment Note 19/2023
PURPOSE STATEMENT Assessment of the Resolution No 1454 of 8 August 2023 adopted by the National Energy and Utilities Regulatory Commission on the approval of changes to some resolutions of the NEURC, amending the Gas Transportation Code and the Rules for the Supply of Natural Gas related to the procedure for switching the supplier by non-household consumers. |
24 October 2023: Assessment Note 18/2023
PURPOSE STATEMENT Compliance assessment of the compliance by the Ukrainian electricity TSO Ukrenergo with the unbundling requirements of Directive 2009/72/EC |
21 October 2023: Assessment Note 17/2023
PURPOSE STATEMENT Compliance assessment of the National Energy and Utilities Regulatory Commision with the Energy Community acquis. |
21 August 2023: Assessment Note 16/2023
PURPOSE STATEMENT Assessment of draft Law No 9024-d of 28 June 2023 “On Minimum Reserves of Oil and Petroleum Products” voted by the Verkhovna Rada of Ukraine on 10 August 2023 in the first reading. |
04 August 2023: Assessment Note 15/2023
PURPOSE STATEMENT Assessment of legislative and regulatory risks related to storing gas in Ukraine by non-Ukrainian operators and measures aimed at their reduction and mitigation. |
21 July 2023: Assessment Note 14/2023
PURPOSE STATEMENT Assessment of the Law of Ukraine “On Amendments to some laws of Ukraine regarding the prevention of abuse in the wholesale energy markets” of June 10, 2023 No. 3141-IX (hereinafter - the “REMIT Law”) transposing into Ukrainian legislation provisions of the Regulation of the European Parliament and Council (EU) No. 1227/2011 of October 25, 2011 on wholesale energy market integrity and transparency. |
14 July 2023: Assessment Note 13/2023
PURPOSE STATEMENT Assessment of recent decision of National Energy and Utilities Regulatory Commission (”NEURC”) No 1126 of 27 June 2023 (“Resolution No 1126”), establishing new levels of price caps on the dayahead market (”DAM”), intraday market (“IDM”) and balancing market (“BM”). |
10 July 2023: Assessment Note 12/2023
PURPOSE STATEMENT Assessment of the draft Procedure for conducting public consultations by the transmission system operator during the development of the cross-border capacity allocation rules and determination of the capacity allocation structure as requested by the National Energy and Utilities Regulatory Commission. |
21 June 2023: Assessment Note 11/2023
PURPOSE STATEMENT Compliance assessment of NEURC Resolution No. 182 of 31.01.2023 “On adoption of and amendments to some NEURC Resolutions” (hereinafter “Resolution 182”), requested by the Ukrainian Energy Regulator National Commission for State Regulation in the Spheres of Energy and Communal Services (hereinafter “NEURC”). |
19 June 2023: Assessment Note 10/2023
PURPOSE STATEMENT Assessment of the draft Law of Ukraine “On Amending the Tax Code of Ukraine on Taxation of Accessing the Interconnectors and other Electricity Export and Import Transactions” provided by the Ministry of Energy of Ukraine. |
19 June 2023: Assessment Note 09/2023
PURPOSE STATEMENT Compliance assessment of the draft Law of Ukraine “On amendments to the Law of Ukraine “On Electricity Market” regarding the coupling of the Ukrainian market and the European Union markets” provided by the Ministry of Energy of Ukraine. |
02 June 2023: Assessment Note 08/2023
PURPOSE STATEMENT Compliance assessment of the draft Law of Ukraine "On Amendments to Certain Laws of Ukraine Regarding the Restoration and Green Transformation of the Energy System of Ukraine" provided to the Secretariat by the Committee on Energy, Housing and Utilities Services of Verkhovna Rada of Ukraine. |
16 May 2023: Assessment Note 07/2023
PURPOSE STATEMENT Assessment of the draft amendments to the Law “On the Electricity Market” related to the harmonization of the rules for the cross-border capacity allocation published by NEURC for public consultation on its website. |
02 May 2023: Assessment Note 06/2023
PURPOSE STATEMENT Assessment of draft amendments to the Law “On the Electricity Market” related to the harmonization of the rules for cross-border capacity allocation subject to discussion by the Committee on Energy, Housing and Utilities Services of Verkhovna Rada within draft Law No. 5322 and provided to the Secretariat by the NEURC. |
25 April 2023: Assessment Note 05/2023
PURPOSE STATEMENT Compliance assessment of the draft amendments to the Methodology for determining the available cross-border capacity of interstate crossings (interstate electrical networks of Ukraine), approved by NEURC Resolution No 893 of 23 August 2018. |
24 March 2023: Assessment Note 04/2023
PURPOSE STATEMENT Assessment of the draft amendments to the Law “On the Electricity Market” related to the harmonization of the rules for the cross-border capacity allocation provided by the NEURC |
22 March 2023: Assessment Note 03/2023
PURPOSE STATEMENT Analysis of Resolution No. 1 of Cabinet of Ministers of Ukraine of 3 January 2023 on the peculiarities of the import of electricity during the autumn-winter period of 2022/2023 under the conditions of the legal regime of martial law in Ukraine. |