The main components of the mechanism of state regulation of sustainable development of the fuel and energy complex of Ukraine

Problem setting. One of the most pressing issues of the development of the fuel and energy complex of Ukraine, the discussion about which has been going on for many years, is the question of the size, forms and directions of state intervention in the activities of individual industries and sub-sectors of the complex, as well as the assessment of the consequences of this intervention for the economy and society as a whole. Attempts to transform and reform branches of the fuel and energy complex in order to increase their efficiency were characterized by inconsistency and inconsistency of actions both on the part of state authorities and on the part of economic entities themselves. In turn, the failures of market restructuring of certain sectors of the fuel and energy complex were largely due to insufficient efficiency of their functioning and activities. To overcome this contradiction, the state level has developed and is implementing the energy strategy of Ukraine for the period up to 2035 “safety, energy efficiency, competitiveness”, the main goal of which is to create an economically and financially stable, dynamically developing system of branches of the fuel and energy complex. At the same time, it should be noted that the sustainable functioning and development of the fuel and energy complex of Ukraine is not only an industry task. It ensures the successful development of the entire national economy and society as a whole. The fundamental position of the fuel and energy complex is confirmed by a list of regulatory documents related to the development strategy of the fuel and energy complex.

Recent research and publications analysis. Theoretical and practical aspects of the state’s influence on the development of the fuel and energy complex are considered in the works of both foreign and domestic scientists. A significant contribution to the study of Branch state regulation was made by such scientists as Ye. Bobrov, M. Haman, O. Yermolenko, B. Holovkin, H. Darnopykh, I. Khrystych, B. Korobko, V. Lir, K. Markevych, V. Omelchenko, A. Novytskyi etc. However, despite numerous studies, to date there are no works in the scientific literature that comprehensively cover the issues of state regulation of the development of the fuel and energy complex, which indicates the relevance of the chosen topic of this article.

Highlighting previously unsettled parts of the general problem. Issues of sustainable development of the national economy as a whole and its individual sectors and industries are of great importance. The problem of the size, directions and tools of state regulation of the sustainable development of the fuel and energy complex has been and remains acute and debatable, and in modern economic conditions, this issue is becoming particularly relevant. Improving the national economy is impossible without high-quality and systematic development of the fuel and energy complex and its individual branches, and therefore there is a need to study the theoretical aspects that can be used as the basis for forming state policy in this area.

Ensuring conditions for the sustainable development of the fuel and energy complex is possible only if the state actively participates, which has all the necessary levers of influence. Achieving sustainable development of the fuel and energy sector is possible on the basis of consistent and purposeful implementation of the entire range of measures within the framework of the state multifunctional development program (energy strategy) of Ukraine.

Paper main body. The analysis of current trends has shown that the sustainable development of the fuel and energy complex industries is possible only on the basis of the correct combination of market mechanisms of self-development and their state support, as well as state regulation of the main parameters of the functioning of industries and enterprises of the fuel and energy complex. The main task of the state is to build a certain system of relations between all subjects of the energy resources market, which will increase the final efficiency of the functioning of the entire complex while respecting public and national interests. First of all, this applies to such market elements as cost, prices, competition, and such economic instruments as taxes and fees, tariffs, quotas, etc.

The world experience of the development of the fuel and energy complex shows that the market is basically able to provide an opportunity for self-development for economic entities of the fuel and energy complex. In a market economy, sustainable development and improving the efficiency and productivity of fuel and energy complex enterprises becomes the prerogative of the enterprises themselves through improving the elements of their internal environment.

A market mechanism of self-regulation aimed at creating conditions for the sustainable development of any economic entity, so enterprises of the fuel and energy complex set the goal of obtaining maximum profit in the course of economic activity. At the same time, enterprises of the fuel and energy complex, unlike most other industries, have a specific characteristic, which is expressed in a high degree of concentration of production capacities. This feature, on the one hand, creates certain advantages for enterprises of the complex, and on the other-additional difficulties in comparison with small and medium-sized enterprises, which is one of the reasons that determine the need for external (state) intervention in the industry.

Conclusions of the research and prospects for further studies. In the course of the study, it was established that the functioning of fuel and energy complex enterprises exclusively in the market environment does not correspond to their role in ensuring the development of society, the national interests of the state and its economic security. The main obstacle to the widespread and uncontrolled use of the market mechanism in the activities of fuel and energy complex enterprises is the strategic nature of the complex and its individual industries. Currently, the fuel and energy complex of Ukraine provides solutions to socio-economic problems of the state, maintaining the national security of the country, and also largely allows solving strategic tasks. Therefore, it is impossible to talk exclusively about market mechanisms for regulating this sphere, it is necessary to apply a detailed set of measures for state regulation of current activities and promising areas of development of enterprises and branches of the domestic fuel and energy complex. In addition, it is not possible to do without state regulation in the field of investment and innovation processes in the fuel and energy sector.

In modern conditions of functioning of the fuel and energy complex, market regulators include elements of State Administration. Each state regulator has a number of economic levers of influence on certain areas and should be used with extreme efficiency.

Thus, the sustainable development of the fuel and energy complex is formed both through market mechanisms and through the implementation of State Economic Policy.