Market Monitoring in UkraineUploaded: 21 of October, 2022

REKK, together with Potomac Economics completed a Market Monitoring manual for the electricity market of Ukraine, and a Market Monitoring report for the gas markets of Ukraine. This Wholesale Market Monitoring Manual (“Manual”) specified various practices to implement market monitoring in the Ukraine wholesale electricity markets. The Manual was developed in conjunction with the Wholesale Market Monitoring Procedures (“Procedures”) and established an approach to expanding the capacity of market monitoring within the National Energy and Utilities Regulatory Commission of Ukraine (NEURC). The Manual supplements exiting market monitoring practices by (1) identifying specific market conduct and outcomes identified broadly in existing screens, indices, and analysis; (2) proposing specific mitigation of certain adverse conduct to address circumstances most likely to affect the efficiency and effectiveness of markets; and (3) identifying key metrics and indices that contribute to effective monitoring and reporting of market outcomes. In the gas market consultants started to work together with the staff of NEURC. The aim was to support the retail gas market monitoring practice of the regulator in the liberalized market environment. To do so, the best practices of the European regulatory reporting were reviewed and compared to the reporting activity of NEURC.