RESTRUCTURING AND TRANSPARENCY OF THE GLOBAL ENERGY MARKET

Keywords: energy market, transparency, competition, restructuring, natural monopoly, electric power industry

Abstract

The intensification of the processes of deregulation and ensuring the transparency of energy markets in economically developed countries has been observed during the last twenty years. However, it should be noted the heterogeneity of the implemented transformations and the ambiguity of the results obtained. This is due to national differences in the structure of the economies of different countries, the level of socio-economic development and readiness of the population and market players for changes, features of state economic policy and technological readiness for reforms of national energy systems. The article examines the global experience of ensuring transparency and deregulation of the electric power sector of the economy and the creation of a transparent, decentralized dispatching system for the production and distribution of electricity. The results of the restructuring of the electricity industry in different countries were analyzed, and the reasons for the failures and successes of various policies of the liberalization of the electricity market were investigated. Particular attention is paid to mechanisms of liberalization and ensuring transparency of the energy market in the EU, which are important in light of Ukraine's European integration aspirations. The role and key duties of state regulators in the energy market of EU countries regulated by the EU Directives are analyzed. Examples of successful energy market reforms in EU countries are considered. The optimal structure of the energy market, which corresponds to EU policy, is illustrated in the example of Finland. The key characteristics of the electricity market regulation system in different countries of the world are summarized. A comparison was made of the results of reforms identical in content and opposite in effectiveness in individual states of the USA. The impossibility of developing single, universal and equally effective recommendations for any country is emphasized.

Published
2022-06-30
How to Cite
Перевозова, І. В., Даляк, Н. А., Морозова, О. С., Лозінська, Л. Д., & Кулик, Т. П. (2022). RESTRUCTURING AND TRANSPARENCY OF THE GLOBAL ENERGY MARKET. Scientific Notes of Lviv University of Business and Law, 33, 120-132. Retrieved from https://nzlubp.org.ua/index.php/journal/article/view/599
Section
Articles

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