On June 24, 2026, the Public Association “Energy Union” held an online meeting for its members, during which two pressing issues regarding the development of Ukraine’s electricity market were discussed: the implementation of a price risk hedging mechanism through futures contracts and the analysis of new long-term auctions for the sale of electricity under bilateral contracts.
The event took place with the participation of representatives from the Ukrainian Energy Exchange and brought together electricity suppliers, traders, universal service suppliers, consumers, and other energy market participants interested in developing modern price risk management mechanisms and increasing the predictability of market operations.
Opening the meeting, the Head of the PA “Energy Union”, Olha Tahieva, noted that the issue of electricity price predictability is currently one of the key challenges for market participants. According to her, the implementation of hedging tools is an important step towards increasing the financial stability of companies, fostering a competitive environment, and bringing the Ukrainian electricity market closer to European practices.
Futures Contracts as a Price Risk Hedging Tool
The main presentation was delivered by Anton Shevchenko, International Cooperation Manager at the Ukrainian Energy Exchange.
During his speech, he presented the concept of a hedging mechanism using futures contracts, shared international experience of using such tools in European energy markets, and considered potential models for their implementation in Ukraine.
Special attention was paid to the role of futures contracts as a tool for managing price risks and forming a predictable cost of electricity. The presentation demonstrated how the use of futures can help suppliers, traders, and large consumers fix price parameters in advance, reduce the impact of day-ahead market volatility, and more effectively plan their commercial activities and financial results.
After the presentation, an active discussion took place with the participation of the PA “Energy Union” members. Participants asked a series of practical questions regarding the functioning of the future mechanism, the role of the central counterparty, guarantees for fulfilling obligations, requirements for bidders, specifics of tax accounting, and the interaction between the physical and derivatives markets.
We would especially like to thank Iryna Beresnieva, CEO of Tolk, for her active participation in the discussion and her professional stance on the prospects of implementing the new tool. In her speech, she noted that the introduction of futures contracts is long-awaited for the Ukrainian energy market. According to her, market participants have long needed mechanisms that will allow them to more effectively manage price risks, plan their activities for a longer period, and generate more predictable financial results.
Meeting participants expressed interest in further professional discussion of the futures contracts concept and emphasized the importance of continuing the dialogue between the Ukrainian Energy Exchange, the regulator, and the professional community. In the participants’ opinion, the implementation of modern hedging tools can become an important stage in the development of a competitive, transparent, and more predictable electricity market in Ukraine.
The Public Association “Energy Union” thanks the Ukrainian Energy Exchange and Anton Shevchenko personally for the informative presentation, openness to professional dialogue, and willingness to engage market participants in the discussion of new tools for the development of the Ukrainian energy sector.
New Long-Term Auctions
As the second item on the agenda, the meeting participants discussed the changes introduced by the Resolution of the Cabinet of Ministers of Ukraine No. 799 dated June 15, 2026, which amended the Procedure for Conducting Electronic Auctions for the Sale of Electricity under Bilateral Contracts.
The resolution introduced special auctions for the sale of standard products for periods of 3, 6, and 12 months. The sale of electricity will be carried out by JSC “NNEGC ‘Energoatom'” and PrJSC “Ukrhydroenergo” through special auction sessions in defined volumes. The document also establishes requirements for the starting price, guarantee provision, the procedure for concluding contracts, and specific conditions for buyer participation.
The PA “Energy Union” conducted a preliminary analysis of the mentioned resolution and brought up for discussion among the Association’s members a number of practical questions arising in connection with the launch of the new long-term auction mechanism. Participants paid special attention to the issues of improving specific provisions of the resolution.
We express our special gratitude to Roman Matviienko, Director for Government Relations at the Ukrainian Energy Exchange, who joined the discussion of the second agenda item and provided answers to the participants’ questions regarding the practical application of the Cabinet of Ministers’ Resolution No. 799.
The PA “Energy Union” thanks Roman Petrovych for the open dialogue, professional comments, and willingness to join the professional discussion of pressing issues in the development of the electricity market.
Based on the results of the discussion, the participants agreed to continue working on the provisions of Resolution No. 799 and to prepare consolidated proposals for improving specific mechanisms of its practical application.
The PA “Energy Union” will continue to provide a platform for open professional dialogue between market participants, state authorities, the regulator, and industry organizations to foster the development of a competitive, transparent, and efficient electricity market in Ukraine.