Section Council is a permanent advisory body of the Exchange, created to ensure the effective participation of energy market participants in the formation, policy development and implementation, as well as the legal regulation of activities in certain areas.
The main task of Section Council is:
- To present the interests of exchange trades (auctions) participants, as well as another energy market participants, on issues related to the organization of trading on the Exchange (including, disputes settlements), membership, clearing, settlements, system of risks management of participants to fulfil their obligations under the agreements concluded and/or registered at the Exchange, introduction of new products and services by the Exchange and on another initiatives and the current state of affairs;
- Ensuring effective interaction of the Exchange with energy resources market participants in order to identify their problems and need and develop the measures by the common efforts, directed to to help solve them;
- dialogue with the government, business in the energy sector and related industries that are consumers of energy resources, expert environment on business transparency, pricing, manipulation, taxation, competition, energy reform in Ukraine, new strategic initiatives;
- consideration, within its competence, of the above issues, development of proposals on them and adoption of recommendations for the authorized bodies of the Exchange.
The Section Council performs the following functions in accordance with the tasks assigned to it:
- Implements interaction with the Exchange on the organization and development exchange trade and other services of the Exchange.
- Develops proposals and adopts recommendations for the authorized bodies of the Exchange, in particular, on:
- current issues related to the organization of trade, clearing, settlement and delivery procedures, risk management mechanisms, etc.;
- development and implementation of new technologies of trading, clearing, settlements and tools and mechanisms for supply risk management and settlements;
- development and implementation of new products, services of the Exchange, in particular, at the request of energy market participants, the state or society;
- training programs for the training of exchange market specialists;
- making changes and amendments to the rules of exchange trading;
- making changes and amendments to regulations.
- Facilitates the consideration by public authorities of the opinion of the Section Council during the formation and implementation of state policy in the energy sector, in the exchange trade area, clearing and settlement activities, etc.
- Prepares and submits proposals to the Exchange Committee or other authorized body of the Exchange on joint events and discussions with the Exchange, in accordance with the assigned tasks, and the plan for their implementation.
- Collects, summarizes and submits information on proposals of social institutions and professional associations to address issues in the energy market that are of public importance.
- Organizes public events to discuss actual issues of energy sector development.
- Considers and carries out expert assessment of new projects of the Exchange and adopts recommendations on them for the authorized bodies of the Exchange.
- Develops proposals aimed at preventing price manipulation on the Exchange and other abuses, and adopts recommendations on them for the authorized bodies of the Exchange.
- Considers other issues to perform the tasks.