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of April 13, 2017 No. 2019-VIII

About the market of electrical energy

(The last edition from 31-10-2019)

This Law determines legal, economic and organizational basis of functioning of the market of electrical energy, governs the relations connected with production, transfer, distribution, purchase and sale, delivery of electrical energy for ensuring reliable and safe supply of electrical energy to consumers taking into account consumer interests, development of the market relations, minimization of costs for delivery of electrical energy and minimization of negative impact on the surrounding environment.

Section І General provisions

Article 1. Determination of terms

1. In this Law the stated below terms are used in such value:

1) the administrator of commercial accounting of electrical energy (further the administrator of commercial accounting) - the legal entity who provides the organization and administration of commercial accounting of electrical energy in the market of electrical energy and also performs functions of the central aggregation of data of commercial accounting;

2) the administrator of calculations - the legal entity who provides the organization of carrying out calculations in the balancing market and the market of support services;

3) algorithm of distribution of means - procedure for distribution by authorized banks of funds from current accounts with the special mode of use without payment orders which is set by the Regulator according to this Law;

4) balance between the demand and supply - satisfaction of the forecasted demand of consumers on electrical energy without the need for taking measures for reduction of amount of consumption;

5) the balanced group - consolidation of participants of the market which is created based on the agreement on creation of the balancing group within which the participant of the market defined by the agreement who enters such consolidation bears responsibility for balance of electrical energy of all other participants of the market entering such consolidation;

6) the balanced group of the guaranteed buyer the balanced group in which the party responsible for balance, the guaranteed buyer is;

7) the balancing market of electrical energy (further - the balancing market) - the market organized by the operator of system of transmission of electricity for the purpose of the providing sufficient amounts of electric power and energy necessary for balancing in real time of production volumes and import of electrical energy and consumption and export of electrical energy, settlement of system restrictions in the integrated power system of Ukraine, and also financial settlement of not balances of electrical energy;

8) safety of delivery of electrical energy - capability of electric power industry to provide needs of consumers for electrical energy according to requirements of this Law;

9) vertically integrated subject of managing - the legal entity irrespective of legal form and pattern of ownership, physical person including which exercises control over other legal entity or physical person performing activities for transfer and/or distribution of electrical energy and at least one of functions for production or delivery of electrical energy or group of such faces tied among themselves directly or indirectly by the relations of control, performing activities for transfer and/or distribution of electrical energy and at least one of functions for production or delivery of electrical energy;

10) the electric power producer (further - the producer) - the subject of managing performing production of electrical energy;

11) production of electrical energy - the activities connected with transformation of energy from energy resources of any origin in electrical energy by means of technical means;

12) responsibility for balance - obligations of participants of the market to report and perform hourly schedules of electrical energy according to amounts of the purchased and sold electrical energy and to bear the financial responsibility for settlement of not balances;

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