Energy security of Ukraine as the main criterion of effectiveness of the national economy functioning

Abstract

The article analyzes the energy security of Ukraine as the main criterion for the effectiveness of the functioning of the national economy today, its realities and prospects. It is stated that as of February 2022, the Ukrainian energy sector was one of the most powerful in Europe, and remains so now, despite significant damage as a result of the Russian invasion. In particular, Ukraine is among the top 10 European countries in terms of installed power generation capacity, among the top 3 gas producers, and has the largest underground gas storages in Europe. It was determined that the lack of a systematic approach to ensuring energy security is the main shortcoming of the current legislation of Ukraine. Complexes of legislative acts are developed by individual subjects in mutually inconsistent directions (regulation of energy markets, security of supply, standardization, physical protection, environmental requirements, etc.). It is substantiated that currently there are actually no tools for ensuring «energy security» and protection of Ukrainian subjects of the domestic energy market in the face of purposeful, politically motivated influen ce of other states, especially in view of the international obligations adopted by Ukraine regarding the construction of open, liberalized domestic energy markets. It has been proven that the purpose of introducing a new electricity market is to introduce competitive market functioning mechanisms, free choice of counterparties, and ensuring the consumer’s right to freely choose an electricity supplier. The law provides for various mechanisms for the purchase and sale of electricity — bilateral contracts, the day-ahead market and the intraday market to ensure sufficient volumes of electricity, and for the financial settlement of electricity imbalances, the balancing market and the market for auxiliary services are provided