Following the adoption of the new Electricity Market Law in Ukraine earlier this year, some of its provisions entered into force in June 2017. The provisions introduced new liberalizing regulations for the electricity market in the country and outlined the major principles of state policy in the sector, with the aim of aligning it with the EU’s Third Energy Package.
The new Electricity Market Law further contains rules on bilateral contracts, a balancing market, a day-ahead market, an intraday market and a market of auxiliary services. However, these provisions will become effective only on 1 July 2019, as the law prescribes a two-year transition period before the effective implementation of all changes.