OREANDA-NEWS. November 29, 2007. Ukraine plans to establish a special exchange aimed at trading in electric power. Such a project was included into the governmentally approved schedule of events focused on the implementation of the Wholesale Power Market Functioning and Development Framework. The power exchange is thought to work every day. All the energy market participants will be able to use it for specifying their contractual obligations close to the date of physical deliveries of the electric power. The exchange is also to reflect the real electric power prices.

The legal environment is to be developed in 2008-2009. The question is about draft laws over the public regulation of natural monopolies' activities in the energy sphere as well as the electric energy market and some others. The Main and Distributing Grids Code is furthermore to appear this time. Ukraine plans to start the introduction of the special mechanism of balancing between purchase and sale of the electric energy and the payments system. The market of bilateral agreements and balanced electric power market is to be fully implemented by 2014, the government of Ukraine says.

As for now, a wholesale electric power market exists in Ukraine. It was created in 1996 on the model of England and Wales electric power pools, it works under the scheme of a "single buyer". All the settlements go through the Energorynok (company under the state control).