Sytailo U. Evaluating the effectiveness of the economic security strategy of Ukraine's energy market under conditions of European integration

The dissertation is devoted to the deepening of theoretical and methodical positions, as well as developing scientific and practical recommendations for assessing the effectiveness of the economic security strategy of Ukraine's energy market under conditions of European integration. The research of the genesis of the concept of «security» concept has revealed the fundamentally different principles of its conceptualization in economic science. It is proposed to interpret the economic security of the energy market as a set of conditions for the functioning of the electricity market ensuring the protection of the economic interests of all its participants from real and potential threats based on the concept of sustainable development. This necessitated the expedient decomposition of the economic security of the energy market into functional components, reflecting the peculiarities of the functioning of the electricity market in terms of European integration changes. Based on the analysis of scientific and methodological approaches to the formation of the economic security strategy, the process of developing the economic security strategy of the energy market is justified and ordered in the stages. Methodological support for the assessing the effectiveness of the economic security strategy of the energy market is developed. A methodical approach to the calculation of the integrated index of economic security of the energy market based on the application of the method of ranking the positions of national electricity markets by the level of representative indicators of economic security has been developed. The study of the structural transformation process of national energy markets of EU member states made it possible to identify the patterns of transformational changes on the electricity markets. The analysis of the transformation processes of the national electricity markets contributed to the subjective and functional structuring of the economic security factors of the energy market by ranking the weight of their influence on all its participants. The calculation of the integral index of economic security of national energy markets was carried out on the basis of the ranking method that made it possible to adjust the positions of national energy markets in the form of ranking by a set of representative indicators of economic security. Based on the comparative analysis of the values of economic security indicators of Ukraine's energy market, as well as the Peer-country of Poland, a critical level of a significant list of economic security indicators of the Ukrainian energy market is substantiated. A descriptive model of reconciling the economic interests of consumers and producers of electricity is formed based on the equilibrium model of the competitive market. Due to economic and mathematical modelling, the relationship between the marginal price for electricity, its reasoned tariff and the sale price of electricity on market segments is proved, as well as the range of marginal prices of regulated electric power companies is proposed. Considering the projected electricity needs of household consumers, a new scheme for the PSO mechanism is introduced. The directions of influence of the proposed PSO mechanism on the functioning of the new Ukrainian electricity market model are specified. The strategic directions of increasing the level of economic security of Ukraine's energy market which involves market digitization, ensuring its integrity and transparency, encouraging rational investment behaviour of market participants, promoting consumer' participation, developing digital competencies electricity companies' personnel are substantiated. Four scenarios for implementing the economic security strategy of the Ukrainian energy market were developed through the application of the "two axes" methodology. Due to the different combinations of assumptions, it is possible to structure the predicted values of the integral index of economic security for the period up to 2030. Approbation of methodical support for evaluating the effectiveness of the economic security strategy of the energy market provided an opportunity to confirm the validity of the proposed strategic directions of increasing the economic security level of the electricity market.