Strategic risks of reforming the energy market of Ukraine in the context of the energy security
Authors: Novosad Oksana , Chorna Nelia , Pavlova Olena , Pysanko Serhii 
Published: October 2023

Monopoly structures and complete control over pricing deform the electric energy environment. An example of the European model of reforming the electricity market, which is based on transparency and consumer accessibility to electricity services, is shown. On this basis, the goals, and vectors of reforming the regional markets of electric energy services have been determined. It is foreseen that the reform process should be carried out on a combination of organizational, economic, technical, social, and other goals. The advantages and disadvantages of reforming the electric power market of the region and the country were identified using the author's SWOT analysis method. The proposed closed cycle of reforming the electricity market covers an interchangeable combination of the following components: regional electricity networks, market environment, information environment, financial and credit support, integration, labor resources, and communication links. Vectors of further reform are outlined. Competitiveness presupposes the free choice of a supplier by consumers in the absence of barriers to the supply and sales market. The new European format of the electricity market model creates new challenges and threats to the operation of electricity market enterprises, which relate to transparent and objective conditions of access to consumption and operation of electricity networks, impartial accelerated development of the electricity market to the requirements of the dynamism of the economic system. Reforming the electricity market combines the processes of achieving organizational, economic, technical, social, and environmental goals. However, this combination causes various consequences and risks associated with profit maximization. One of the most critical problems of the multi-system operator's functioning is ensuring its independence and mutual respect for all market participants. For this, the following measures are legally justified: procurement of related services on a competitive basis; transparent information about the available list of related services, their volumes, costs, terms, and requirements for suppliers; formation of accounting of the expense and income component when implementing the centralization of dispatching management from other types of activity; formation of access to the capacity of interstate electrical networks by conducting electronic auctions; submission of the UES development plan to the CMU of Ukraine for consideration, even in the case of inconsistency between the interested authorities; the investment component of the region will grow only under the conditions of reforming the electricity market. However, the processes of introducing a new model of the electric power services market are being formed under tight deadlines, the introduction and adoption of legislative acts, the implementation of organizational and structural transformations, and software approvals; despite everything, the processes of reforming the electric energy services market are an integral attribute of the region's integral investment policy.
Keywords: energy market, energy security system of Ukraine, energy system, energy risks, strategic risks.