Bolkvadze N. Electricity Exchanges in Eastern Europe

The object of the dissertation is the processes of formation and development of electricity exchanges. The aim is the theoretical substantiation of the regularities of establishment of electricity exchanges in the countries of Eastern Europe in the liberalization process of electricity price formation, and the development on this basis the “road map” of formation of Ukrainian electricity exchanges that can be able to integrate to the unified energy system of the EU. The methods: historical analysis, systems analysis, logical analysis, synthesis and comparison, probabilistic, mathematical, empirical, analytical, economic and mathematical, graphical and tabular. The results: theoretical substantiation of the regularities of establishment of electricity exchanges in the countries of Eastern Europe in the process of replacement the model of natural monopoly in this sphere and making proposals for the formation of a model of Ukrainian competitive electricity market that is able to integrate into the EU energy market. The novelty – a "road map" of the formation and development of the exchanges market of electricity for use in Ukraine and other European countries has been built for the first time; methodological approaches to the computation of spot exchange indices of the electricity market “day-ahead” have been improved, the model of electricity market of Ukraine; the determination of development tendencies of electricity exchange markets in Eastern Europe has been further developed, the interpretation of the term “electricity exchanges”, theoretical substantiation and empirical confirmation of the hypothesis about regularities of establishment of electricity exchanges. The results are implemented into practical activity of PHC “Khmelnitskoblenergo”, CE “Ukrainian Energy Exchange”, LLC “BFSE”, Verkhovna Rada Committee on Fuel and Energy Complex, Nuclear Policy and Nuclear Safety, State Agency on Energy Efficiency and Energy Saving of Ukraine and to Ternopil National Economic University educational process. Sphere of application: activities of the Ministry of Economic Development and Trade of Ukraine, Ministry of Energy and Coal Industry of Ukraine, Committee of the Verkhovna Rada on Economic Policy.