Oleksii Dubovskyi: The Market Model Provides an Opportunity to Attract Investments

Ukrainian Energy Exchange LLC (UEEX) is the leader in exchange trading in Ukraine and the only centralized platform that concentrates the highest liquidity and trade in all types of energy resources. UEEX conducts trading using a wide range of exchange technologies and instruments. Over the past five years, more than 400,000 deals have been concluded on the UEEX platform, and the total sales volume exceeds 1,200 billion UAH. Today, more than 6,400 companies of various sizes operate on the UEEX platform: producers, state enterprises, traders, suppliers, etc.

The Ukrainian Energy Exchange has been a participant in the Energy Club since the beginning of the business community’s creation.

“The Energy Club is a platform that unites professionals in the energy sector, provides an opportunity to exchange ideas, discuss pressing issues, find solutions to problems, and appeal to government authorities with proposals to improve the industry,” says Oleksii Dubovskyi, Chairman of the Exchange Committee of the Ukrainian Energy Exchange. “Compared to some leading communities, the competence and level of discussions in the Energy Club are much higher because the community is specialized.

The energy industry does not respond well to spontaneous and unsystematic decisions, so it is important to analyze and discuss everything repeatedly among high-class experts. It is good that representatives of state regulators, the Ministry of Energy, and other governing authorities participate in Energy Club events, and the dialogue with them has a positive character. During discussions, everyone expresses their opinion, and we can count on feedback, understanding that the problem is not only voiced but also heard and taken into account. Given the martial law, many energy problems have come to the forefront and require timely response.”

Oleksii Dubovskyi noted not only the activity but also the effectiveness of events organized by the Energy Club:

“For example, we can cite cases related to UEEX: discussion of the draft European integration law, where Ukraine undertakes obligations for market coupling – joint electricity trading in Europe, compatibility with rules that exist in the European Union. We talked about what model (monopoly or competitive) the NEMO (Nominated Electricity Market Operator, connecting the Ukrainian day-ahead and intraday markets with European ones) should have. Both members of parliament who write draft laws and Western experts participated in the discussion.”

In fact, many urgent issues require discussion today. The Chairman of the Exchange Committee of the Ukrainian Energy Exchange highlighted several of them:

“The primary one is the functioning of the practically destroyed energy infrastructure. Second: no matter how difficult it is during military operations, we should not abandon the market. There is always a temptation to switch to completely manual regulation. But since Ukraine has made commitments, and the Energy Community is also helping us develop the legislative framework, and we are keeping course toward the EU, the issues of the market and market pricing are the most relevant. In turn, the market model in the future, in the medium and long-term perspective, will provide an opportunity to attract investments for the restoration and modernization of the energy sector.”

The Energy Club not only unites a circle of experts in the Ukrainian energy market but also initiates active discussions, following which a vision for the further development of the market is formed, taking into account the interests of all its players and, first of all, consumers.

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On March 15, the Ukrainian Energy Exchange celebrated its 15th anniversary. Founded in 2010, UEEX has become a leading platform for organizing and conducting trading in energy resources and exchange commodities, ensuring market transparency and efficiency.

The creation of the Ukrainian Energy Exchange was the first step toward building an open and competitive organized market. The launch of electronic trading on UEEX enabled participants to obtain fair prices based on real market conditions. The implementation of the new version of the Law of Ukraine “On Capital Markets and Organized Commodity Markets” in 2021 was an important step toward reforming and improving exchange activities.

In 2024, UEEX established a subsidiary, Ukrainian Clearing House LLC. UEEX also began providing services for aggregation and provision of information to the NEURC about commercial and trading operations carried out by market participants related to wholesale energy products in accordance with REMIT. These steps contribute to increasing the efficiency and transparency of exchange operations.

UEEX has become an integral part of Ukraine’s energy sector and continues its journey, contributing to the development and stability of the energy industry, implementing leading practices and technologies for the sustainable economic development of Ukraine and integration into EU markets.