Chernetska O. The mechanism of the European Union energy market liberalisation (the example of EU electricity and gas markets)

Dissertation is devoted to the study of the complex features of modern policy of European Union energy market liberalisation. This paper deals with the theoretical and methodological framework for the liberal paradigm analysis in modern economics, assumptions and key concepts of the EU energy market liberalisation, the system of economic and institutional transformations in the European single energy market and the implementation of the basic principles of the EU Third Energy Package on the Ukrainian electricity and gas markets. In this dissertation have been substantiated the structural elements of the liberalization mechanism of the European Union energy market which include functional and structural, institutional and economic components that provide an organic interaction between market-based instruments and application of regulation and economic management and coordination of economic activity in the EU energy system. Author proposes to consider regional and transboundary factors in the study of the EU energy market conditions. Using the method of correlation and linear regression analysis, in the Dissertation has developed methodological approach to determine the economic and mathematical dependence between the instruments of liberalization of EU electricity and gas markets and improving of competitive environment in the markets. Determined, that the level of competition is effectively determined by the market concentration index - namely, the market share of 3 largest electric power companies (CR3). There was improved theoretical and methodical principles that estimates the effectiveness of EU policies of liberalisation of electricity and gas markets, considering regional and transboundary cooperation. In the dissertation stressed on necessity of further integration of Ukraine into the EU energy market and relevant reforms, that provide liberalization of the electricity and gas sectors of the domestic economy. It was characterizes overall level of Ukraine integration into the EU energy market and formulated the necessary conditions of reforming electricity and gas markets in Ukraine.