ENSURING TRANSPARENCY AND INTEGRITY IN THE WHOLESALE ENERGY MARKET

The article examines the key aspects of the regulatory framework for wholesale energy markets in the European Union, primarily the Regulation on the Integrity and Transparency of Wholesale Energy Markets (REMIT). The author analyses the state of REMIT implementation in Ukraine, the milestones, in particular, the REMIT Law of 2023, which brought Ukrainian legislation in line with European standards, and further amendments to the energy market laws of 09 February 2025. The author notes Ukraine’s significant progress in meeting the REMIT requirements. The author examines the specific role of the NEURC in implementing of REMIT in Ukraine, which has developed the necessary by laws, in particular, for the registration of market participants, the functioning of the insider information platform, monitoring of market operations, investigation and prevention of abuse and prosecution for breaches. It is noted that the martial law in Ukraine provides peculiarities for information disclosure and the Regulator was to restrict the access to critical energy infrastructure sensitive information. It is determined that Ukraine should continue to implement, in particular, REMIT II requirements introduced by the EU in May 2024. The empirical basis for writing this article was the analysis of the EU acquis, analytical and advisory documents on the research issues. The laws of Ukraine and other regulatory legal acts adopted by the National Commission for State Regulation in the Spheres of Energy and Utilities on the implementation of REMIT requirements in Ukraine were also analyzed. The research topic is partially devoted to the works of domestic and foreign scientists, including S. D. Bilotsky, I. V. Blinov, O. P. Zagnitko, I. V. Perevozova, T. I. Shvydka and others. However, it is worth noting that the issues outlined by us still remain insufficiently studied at the level of scientific developments, which necessitates its thorough study. The purpose of the presented scientific article is a scientific and practical analysis of the status of the transposition of the REMIT Regulation in Ukraine, as well as the Regulator’s efforts to ensure market stability, competition development, and energy security.