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Market operator

In 2019, through the reform of the electricity market, Ukraine created a national legal monopoly – a state-owned enterprise, now Joint-stock company “Market operator” – to organise the purchase and sale of electricity in accordance with European rules in the B2B segment on spot trading terms and conditions. On 30 June of that year, Ukrainian companies contracted electricity for the first time on the day-ahead and intraday markets on market terms and conditions, where the price was formed on the basis of supply and demand. On the same day, a daily system of financial settlements between sellers and buyers through escrow accounts was launched, making the spot market the only debtfree segment of the Ukrainian electricity market. Since then, the spot electricity market has matured. It went through a period of formation, a period of pandemic, which actually made it possible to prepare all business processes for remote operation and to conduct trading and settlements without interruption in the first days of the large-scale attack by russia. DAM and IDM resisted panic and withstood the uncertainty caused by the new aggressive phase of the war against Ukraine. JSC “Market operator” remained in touch 24/7 and ensured stable and transparent operation of the spot market. We have gone through the corporatisation process and offered new IT solutions to businesses: we introduced new trading products – block, flexible and linked block bids, automated and digitalised all business processes. As the owner of a qualified electronic trust services provider of the AKCC for the electricity market, JSC “Market operator” is the only energy company in Ukraine authorised to issue qualified electronic signatures. Our IT specialists have developed and patented the ETS/UA software package that is a platform for conduction of e-auctions for the purchase and sale of electricity under bilateral contracts. It has helped us switch to electronic execution of electricity purchase and sale certificates on the DAM and IDM, as well as acceptance certificates for the services provided in electronic form. Our ambitious goal is to launch netting on DAM and IDM with a further transition to clearing on other commodity markets, to start collecting and aggregating data according to international REMIT standards, to trade guarantees of origin, etc. A new challenge for JSC “Market operator” is the integration of the spot electricity market of Ukraine with the global market of the European Union.

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