ТЕНДЕНЦІЇ ТА ПЕРСПЕКТИВИ ВИДАТКІВ З ДЕРЖАВНОГО БЮДЖЕТУ НА ЕНЕРГЕТИЧНИЙ СЕКТОР УКРАЇНИ

The study aims to analyze the existing regulatory and institutional foundations for establishing financial security in Ukraine's energy sector in the context of prospects for improvement and addressing related challenges. The article examines the basic conceptual principles of achieving energy security, including integration into a unified European energy space, ensuring stable energy independence, enhancing energy efficiency, and maximizing the potential of renewable energy sources. The proposed model of forming financial security in the energy sector and strategies for diversification and collaboration between Ukraine and the developed international community are critically evaluated. The study identifies ways to optimize the institutional and regulatory framework for financial security in the energy sector, including modernizing energy infrastructure, harmonizing legislation with European standards, and diversifying supply. The findings conclude that Ukraine's integration into the European unified energy space and robust investment support from the international community are considered prerequisites for the intensive development of Ukraine's energy sector.

Виконання зобов’язань Україною як члена Енергетичного Співтовариства передбачає зменшення державного втручання, одночасно із забезпеченням доступу до надійних, стійких, сучасних джерел енергії. Положеннями Третього та Четвертого енергетичних пакетів визначено ряд заходів державної допомоги (чи державної підтримки), серед яких: підтримка у питаннях підвищення енергоефективності; заборона відключення вразливих споживачів від електроенергії у критичні моменти; стимулювання до інвестування у нові види виробництва енергії, що походить з відновлюваних джерел; залучення кінцевих споживачів повноцінно брати участь у енергетичному ринку й управляти власним енергоспоживанням.
 Метою статті є аналіз існуючих механізмів державної допомоги в Україні у різних секторах енергетики і визначення на цій основі шляхів зменшення державного втручання в умовах трансформування системи управління енергетичним сектором.
 Науковою новизною є сформовані за результатами дослідження пропозиції для створення правових умов розвитку ринкових механізмів з одночасним зменшенням державного втручання у різних секторах енергетики.
 Висновок. Трансформування системи управління енергетичним сектором в Україні супроводжується зменшенням державної допомоги в окремих секторах енергетики одночасно із фрагментарним впровадженням ринкових механізмів. У результаті аналізу існуючих механізмів державної підтримки в Україні у різних секторах енергетики з’ясовано проблемні питання їх функціонування і визначено пріоритети зменшення державного втручання у зазначену сферу. Можна стверджувати, що задля усунення прогалин функціонування механізмів державної допомоги в різних секторах енергетики для України актуальними є: впровадження енергоефективних заходів на промислових і комунальних підприємствах, запровадження державного стимулювання побутових споживачів до виробництва енергії з відновлюваних джерел; розширення можливостей споживача впливати на власне енергоспоживання; надійний захист вразливих споживачів енергоресурсів через посилення адресності соціальної підтримки.

Purpose. The purpose of the article is to substantiate the conceptual principles of the three-stage post-war restoration of the energy sector of Ukraine in the context of global trends and energy transition. The methods. Authors propose the three-phased methodology for the restoration of Ukraine's energy sector based on experience of power engineering industry experts. Findings. The analytical description of the study is sufficiently well presented on the basis of specific examples of the principles of energy development in leading EU countries and adapted to the specific priority needs of Ukraine. The main emphasis is placed on the basic principles of the implementation of renewable energy sources, taking into account the trends of their current and prospective development. A critical analysis of the structure of the electricity generation system in Germany is performed as an example for adopting similar experience in order to effectively transform the energy sector of Ukraine. Originality. The analytical study, which is based on the expertise of the authors, has a fundamental scientific novelty related to the definition of technical and economic prerequisites and stages of effective post-war recovery of the economy and energy of Ukraine in the context of the green transition and energy security. Key principles of the strategy for the post-war restoration of the energy sector and the economy of Ukraine are proposed, taking into account the necessary legislative and regulatory changes. Practical implementation. The authors propose specific actions, time frames and markers for achieving results with the necessary financial investments. The most important factor can be considered the detailed description of the authors' proposed phased methodology for the restoration of Ukraine's energy sector from the standpoint of industry experts. The main tasks of each participant in the process (the state, system operators, high-tech business, investors) are detailed in terms of a comprehensive solution to the problem of sustainable energy supply to consumers in the context of effective restoration and development of energy infrastructure.

The article investigates the theoretical, methodological, and analytical provisions for the effective implementation of energy storage systems in the energy sector of Ukraine as one of the elements of Industry 4.0. Synthesis of research results allows us to identify key characteristics that contain the main approaches and recommendations for the implementation of energy storage systems in the energy sector of Ukraine based on foreign experience. In addition, the authors draw attention to the fact that the main objectives of energy storage systems as an element of the development of Industry 4.0 in the energy sector of Ukraine are the simplification of technological schemes; overall reduction in the cost of electricity supply through the use of DC systems; reduction of technological costs; increase the reliability of the integrated power system facilities; unloading of the general power supply network; ensuring constant and uninterrupted use of electricity; the possibility of local monitoring of energy efficiency; decentralization and decarbonization of Ukraine's energy sector.

The author poses the problem of evaluating the efficiency of the privatization in Ukraine's energy sector in terms of achieving a balance between the interests of the state, business and society. There are data on the condition of the state corporate rights and their capitalization, structural and functional, and institutional characteristics of the stakeholders (on the example of electricity market). The author analyzes the progress of privatization in the electricity sector, defines the features and challenges of each its stage, and presents the structure and dynamics of corporate rights in the energy companies. Provided the results of comparative evaluation of the efficiency of public and private energy companies. It is established that ownership is not the main component among the factors that determine the technical and economic condition of the energy companies. The author defines the factors contributing to the poor performance (for the state and society) of the conducted privatization tenders for the sale of energy assets, including the lack of coordination between the state authorities as to objectives and conditions of the privatization of strategic assets, and uncertainty about the extent of liberalization and protectionism on the energy markets. In general we can say that privatization has not become a powerful investment resource for the development of the electricity sector and for the formation of a competitive electricity market, which created an asymmetry of socio-economic effects between the state, business and society. The author assesses the prospects and risks of further privatization of energy assets in the current conditions in terms of energy and financial security. Based on the investment results, he makes various conclusions and provides recommendations as to further privatization of the energy sector in Ukraine. The article considers the possibilities of a societally just redistribution of the ownership of strategic enterprises in the basic industries of Ukraine's economy.

Nowadays the gas industry is one of the major components of the fuel and energy sector in Ukraine, and key issue of energy security is to increase domestic production of natural gas. The article analyzed the resource potential of gas production industry of Ukraine, where the current state and the main problems of development and operation were reviewed. It shows that in recent years the cause of decline in production of natural gas is not due to depletion of mineral resources but associated with geological exploration process imbalance, and one of the main causes of it was the reduction of investment in the sector. The results of predicted cost of gas production in Ukraine (average in the life cycle of conventional gas field), which is made using mathematical software and data program tools developed at the Institute of Energy of National Academy of Sciences of Ukraine. The forecast of natural gas production in Ukraine for the period until 2040 was developed. The evaluation of investments to gas production industry required to achieve the predicted production indicators was made. The main technological, economic and organizational measures to increase natural gas production in Ukraine were defined.

Monetary and macroprudential policy with foreign currency loans

The domestic energy complex is an important and vulnerable component of the national economy. The purpose of the article is to deepen the study of directions for improving the functioning of the energy system of the national economy. With the beginning of a full-scale war and the threat to the national energy system, Ukraine joined the European Network of Electricity Transmission System Operators (ENTSO-E). ENTSO-E and its members have many promising tasks for cooperation in the system of European electricity transmission system operators and carry out a common mission: ensuring the security of the unified energy system at all times at the pan-European level and the optimal functioning and development of the European unified electricity markets. The article highlights the following among investment policy measures aimed at strengthening the security and reliability of the energy sector: ensuring transparency, improving legal and regulatory mechanisms; adaptation to European energy legislation; economically justified tariffs; active communication policy; fight against corruption. Military actions on the territory of Ukraine have a direct impact on energy security and sustainable development of both the national economy and the entire European energy landscape. The challenges facing Ukraine's energy sector due to massive shelling of energy infrastructure have caused significant technological disruptions, leading to long-term power outages for residential and industrial consumers. In the work on the example of the companies Siemens, Flyability, General Electric, Schneider Electric, Honeywell showed innovative technologies for optimizing the functioning of the gas transportation system. Thus, ensuring the stability of the energy sector becomes the key to achieving sustainable economic development and strengthening national security.

PROSPECTS AND EFFICIENCY OF BIODIESEL PRODUCTION IN UKRAINE FROM OILSEED CROPS

The article examines public-private partnership (PPP) mechanisms as a tool for modernising the energy sector of the national economy in the context of the transition to renewable energy sources and post-war reconstruction. Based on a systematic analysis ofthe regulatory framework, international experience of PPP projects in the United Kingdom, Poland, Germany and China, and the current state of Ukraine's energy sector, the main PPP forms (BOT, BOOT, PPA, concession, joint venture) and the conditions for their effective application are described. Legal, financial, institutional and security barriers to PPP implementation in Ukraine are systematised, and mechanisms for attracting international financial institutions (EBRD, EIB, IFC, World Bank) are identified. Strategic directions for building a PPP ecosystem to achieve the targets of the National Energy and Climate Plan (NECP) for 2025–2030 are substantiated.

Problem Statement. Energy efficiency of the housing stock is one of the most important components of sustainable development in Ukraine, especially in the context of rising energy resource tariffs and global environmental challenges. State policy in this area aims to reduce energy costs, improve housing quality, and enhance citizens’ living conditions. The relevance of the topic is determined by the need to develop comprehensive measures that ensure the effective use of energy resources, adapt buildings to new technologies, and implement innovative solutions. The main directions for improving state policy include the formation of investment programs for the modernization of the housing stock, the introduction of a financing system for energy-efficient projects through state and local budgets, as well as the involvement of international financial institutions. Additionally, it is important to ensure informational and educational campaigns for the population regarding the benefits of energy efficiency, as well as to develop mechanisms to encourage businesses and citizens to implement energy-efficient technologies. The introduction of new construction standards that take into account environmental and energy-efficient norms will become a guarantee of sustainable development for the housing stock. The purpose of this article is to analyze existing problems in the field of energy efficiency of the housing stock in Ukraine and propose measures that can enhance the effectiveness of state policy in this area. Conclusion. State policy in the field of energy efficiency of the housing stock is a key factor influencing the stability and development of the energy sector in Ukraine. The development and implementation of comprehensive measures aimed at increasing energy efficiency, supporting investments, and promoting ecological norms will create conditions for reducing energy costs for the population and improving housing quality. Improving financing mechanisms and cooperating with international organizations will ensure the sustainable development of the construction sector and adapt the housing stock to modern energy efficiency requirements.

Notes that foreign currency loans have become increasingly popular due to the UK′s entrance to the Exchange Rate Mechanism and an increase in clients′ awareness of financial markets. Suggests that risks are still attached to foreign currency loans and questions whether they can now be considered a viable alternative. Concludes that, if one can afford to take the risk, the long‐term gains in terms of interest rate savings and potential debt reduction can be substantial.

Capital Controls and Misallocation in the Market for Risk: Bank Lending Channel

Ukrainian translation of the book Trends and developments in the renewable energy sector in Ukraine. opportunities and threats for using biomass in the energy transition, https://doi.org/10.14261/7E148673-BB0F-4411-A764DC266F2D2AAD

The performance of budget target programs as an object of a control and analytical study of the activities of public higher education institutions has been considered. Based on the elaboration of the normative documents, their general content model was formed, which includes the principles of constructing the performance indicators of the targeted budget programs, the criteria of the effective indicators of the targeted budget programs and the proper characterization of the performance indicators. In the process of working out the provisions of the Model list of budget programs and performance indicators for local budgets in the field of Education regarding the performance indicators under the budget program "Training of Higher Education Institutions of III - IV Accreditation Levels (Universities, Academies, Institutes)". In the course of the research it was found that the presented set of performance indicators has a rather general appearance, due to rather averaged macroeconomic indicators that do not acquire the necessary detail at the micro-level - the levels of a specific state higher education institution, as well as not full correlation with the fixed model of performance indicators. The study of existing approaches to the formation of their totality in the world has allowed to offer a system of productive indicators, including: product indicators, cost indicators, performance indicators, quality indicators (traditional acquired further development), profitability indicators, sustainability indicators (developed by the authors), where: economic indicators characterize the observance of austerity in the use of general and special funds; sustainability indicators characterize the financial sustainability of public higher education institutions. It is established that the complex development of these sub-components of the management accounting of the State Higher Education Institutions will provide stability and effectiveness of the latter, which, in turn, will contribute to improving the efficiency of the state higher education institutions, and thus ultimately contribute to the improvement of the public finance system of Ukraine.