President Petro Poroshenko signed the Law On the Electricity Market adopted by the Verkhovna Rada in April this year – Ukraine has implemented the requirements of the Third Energy Package of the EU. The law provides for the introduction of a new market model that would include such segments as the market of bilateral contracts, the day-ahead market, the intra-day market, the balancing market and the market of ancillary services. It is expected that the new format will be fully operational starting from 2019.
In the process of this law's drafting, the Ministry of Energy and Coal Industry of Ukraine initiated a broad discussion of provisions of this regulatory document, which involved electricity market players, civil society organizations and independent experts.