NEURC, Stock Market Commission sign memo of cooperation to prevent abuse in wholesale energy market, capital markets, organized commodity markets
On April 3, 2024, Head of the National Energy and Utilities Regulatory Commission of Ukraine (NEURC) Valeriy Tarasiuk and Head of the National Securities and Stock Market Commission (NSSMC) Ruslan Magomedov signed an agreement on interaction and cooperation.
"The purpose of the agreement is to create a basis for cooperation and strengthen interaction between the parties in the supervision of wholesale energy markets, as well as to prevent abuse in the wholesale energy market and capital markets and organized commodity markets, manifestations of unfair competition in the performance of the functions of NEURC and the Stock Market Commission," the regulator said on its website on Wednesday.
The document was signed during an event to mark the closure of the EU project "Assistance to the National Securities Market Commission in improvement of Ukraine's energy commodity markets and commodity products organized trading in Ukraine."
As part of the agreement, the parties undertake to exchange information regarding wholesale energy products on energy markets, capital markets and organized commodity markets, hold workshops, meetings and consultations, and create joint working groups to form a common position on the regulatory policies of the parties.
"The agreement should help strengthen efforts to prevent abuses in the wholesale energy market and capital markets and organized commodity markets, increase the confidence of international partners in energy markets, promote the development of an investment climate and increase competition, and protect end consumers from influence on retail prices for energy products," the NEURC head said.
It is noted that NEURC and the Stock Market Commission also expressed their intention to implement joint activities and discuss draft laws and regulations of common interest.