ІНСТИТУЦІЙНЕ СЕРЕДОВИЩЕ ФІНАНСОВОГО ЗАБЕЗПЕЧЕННЯ СТАЛОГО РОЗВИТКУ ЕЛЕКТРОЕНЕРГЕТИЧНИХ КОМПАНІЙ
Authors: Костирко Лідія Андріївна , Зайцева Людмила Олексіївна 
Published: April 2023

The article is devoted to the disclosure of issues, conditions, structures and directions for improving the institutional environment of financial support for the development of the energy sector. The aim of the research: is to determine directions for improving the institutional environment of financial support for the sustainable development of electric power companies under the conditions of implementing financial decisions regarding the attraction and effective use of financial resources and state financial support within the framework of the implementation of national priorities for the development of the electric power industry. The subject of the research: institutional environment and its impact on financial support for the sustainable development of electric power companies. The methods of the research: of scientific knowledge, method of generalization, comparison, logical – meaningful, methods of induction and deduction. The main hypothesis of the study is the assumption that the influence of the institutional environment on the financing of the sustainable development of electric power companies is manifested through legal support, state support (regulation, control, audit of restoration processes) of projects, the development of risk insurance mechanisms, the implementation of methods of optimal allocation of resources according to the priority of restoration programs , deepening the interaction of state institutions with electric power companies on the basis of public-private partnership. The statement of basic materials. On the basis of the analysis of the institutional environment and regulatory and legal support for the activity of energy enterprises, the problematic field of institutional issues in the field of state regulation of the activities of the subjects of the electric energy market and directions for their solution have been determined. The essence of the institutional environment is determined and its influence on financial support for the sustainable development of energy enterprises is demonstrated. The role of financial institutions in ensuring the sustainable development of public companies is shown. Based on the analysis of the state of financial support for the development of the energy sector of Ukraine, it was established that financial and credit institutions have a limited influence on the formation of financial resources of enterprises in the energy sector. Attention is focused on the need to implement international experience in financing the sustainable development of energy enterprises. The institutional conditions for financial support for the development of electric power companies are disclosed and restraining factors regarding the attraction of investment resources are identified. The characteristics of financing tools for the sustainable development of energy sector enterprises are given. It is proved that the institutional environment of market relations is directly a lever of influence on the reproductive processes of capital formation of energy enterprises. The directions for improving regulatory legislation, the state policy of financing the development of the energy sector in the context of the selection of mechanisms for stimulating the development of the electric power sector, including RES, and supporting the development of new technologies are substantiated; use of world experience. The originality and practical significance of the research: have proposals regarding the use of financing tools for the sustainable development of energy sector enterprises and the determination of directions for improving the state financing policy in the context of choosing mechanisms for stimulating the development of the electricity sector. Conclusions and perspectives of further research: The institutional influence on financial support for the development of the energy sector is manifested through: improvement of regulatory legislation in the context of creating favorable conditions for supporting the decarbonization of the Ukrainian economy and the post-war recovery of energy enterprises; state financial support for stimulating the participation of banks in the post-war restoration of ecological technologies, increasing the share of RES generation in the Ukrainian energy system; the development of mechanisms for the removal of tax restrictions (in particular, regarding gas rent and the ban on imports) and the creation of mechanisms for guaranteeing military risks; implementation of methods of optimal distribution of resources according to post-war reconstruction programs, taking into account their priority and strengthening of financial control, transparency regarding targeted use; creation of favorable conditions for lending, taking into account world practices. In order to achieve ecologically safe, socially oriented economic development, it is expedient to apply world experience and effective methods and forms of mobilization of financial resources in the field of electricity.