Transparency is a key to attracting investment in the restoration of electricity companies and ensuring their economic security

Abstract

Abstract. Introduction. In wartime, the economic security of Ukraine's energy enterprises has become quite critical due to the destruction of a significant proportion of facilities and the existence of significant debt among enterprises in the industry, which is clearly outlined in the results of the study [1]. As of September 2024, the total losses of Ukraine's Unified Energy System (UES) exceeded 9 GW. Almost 90% of the capacities of thermal power plants (TPPs) and 40% of hydroelectric power plants (HPPs) have been put out of service, which poses a serious threat to the country's energy security due to a total energy deficit. These significant losses of capacity in a critical period increase the risk of power outages and complicate the restoration of energy systems, directly affecting the stability of the economy and the well-being of citizens [2, p.7]. The only way to restore Ukraine's energy system in the current situation in the country is to attract foreign investment. Investors are currently ready to invest funds. However, the conditions for the functioning of the energy market and energy enterprises are not sufficiently transparent, significantly hindering decision-making on investing capital in the reconstruction of Ukrainian energy facilities.

The article's purpose is to study the level of transparency of Ukraine's energy market and its impact on attracting investments in the reconstruction of energy enterprises and ensuring their economic security.

Research methodology. The following methods were applied in the research process: analysis and synthesis, statistical method, comprehensiveness method—when studying the energy market of Ukraine; system-logical method—when covering the results of the research conducted; and generalization method—when forming conclusions.

Results. It is substantiated that solving the problem of the country's energy deficit under the current conditions in Ukraine is possible only with the accelerated development of renewable energy sources and the creation of alternative stationary and mobile generation based on gas turbine and gas piston power plants. However, the adoption of such measures is possible with adequate financing. However, RES producers are currently financially unable to take the above measures due to significant debt owed by the State Enterprise "Guaranteed Buyer". Attracting external investments is complicated by the low level of transparency of the functioning of the energy market and electricity enterprises. Considering existing opportunities, several measures have been proposed to solve this problem.