The Financial Instruments for the Accumulation of Resources for Modernization of Electroenergetics

• Main Author: Lukiashko Pavlo O.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2017-06-01
• Series: Bìznes Inform
• Subjects: depreciation fund; electric energy exchange; green tariff; oligopoly; production facilities; financial instruments; special-purpose accounts; energy bonds
• Online Access: http://www.business-inform.net/export_pdf/business-inform-2017-6_0-pages-90_97.pdf

The article is aimed at evaluating the perspective for transformation of the organizational mechanism of the electric energy market in terms of the accumulation of financial resources to modernize the production base of the generating enterprises and substantiating the additional financial instruments for capital accumulation with the indicated need. A critical evaluation of the prospects for increasing the resource base of the power generation enterprises in terms of the transition to a stock model of the electric energy market has made it clear that there is no direct link between the way in which the market is organized and expansion of the generating capacities. A high level of concentration of the electric energy market is likely to stipulate establishing monopolistic prices and underutilization of production capacity with purpose to maintain them. In view of the potential sources of financing for modernization of electroenergetics, it was suggested that three financial instruments for attracting capital to the industry should be put into practice: the transformed «green» tariff, «energy» bonds, special-purpose accounts for the means of the depreciation fund of effective enterprises.