Science, Technologies, Innovations №3(39) 2026, 80-90 р

https://doi.org/10.35668/2520-6524-2026-3-10

Hrinchenko H. S. — PhD in Engineering, Associate Professor, Associate Professor at the Department of Automation, Metrology and Energy-Efficient Technologies; V. N. Karazin Kharkiv National University; 4, Svobody Sq., Kharkiv, Ukraine, 61001; +38 (066) 594-66-87; h.s.hrinchenko@karazin.ua; ORCID: 0000-0002-6498-6142

IMPROVING REGULATORY POLICY AS AN INSTITUTIONAL AND ECONOMIC FACTOR IN THE SUSTAINABLE DEVELOPMENT OF THE NUCLEAR POWER COMPLEX

Abstract. The article substantiates the theoretical and methodological foundations and develops practical recommendations for improving regulatory policy as a key institutional and economic factor in ensuring the sustainable development of Ukraine’s nuclear power complex. A diagnosis of the current state of state regulation of the electricity market was conducted, revealing cumulative regulatory distortions. In particular, the study identified the destructive impact of excessive quasi-fiscal burden on JSC “NNEGC «Energoatom»” within the framework of public service obligations (PSO) with payments exceeding UAH 528,90 billion in 2022–2025 as well as administrative price caps and cascading debt accumulation, which cause a chronic capital expenditure deficit. Applying institutional analysis and a systemic-structural approach, a conceptual model of institutional and regulatory interaction among industry actors is proposed, envisioning a transition from the “cost-plus” method to incentive-based RAB regulation and the implementation of bilateral contracts for difference (CfD). It is proved that the implementation of the improved institutional and regulatory mechanism will reduce the weighted average cost of capital (WACC) from 15,5 % to 8,2 %, shorten the project payback period by at least 4,5 years, attract up to USD 14,5 billion in investment by 2035, and increase the annual volume of avoided CO2 emissions to 44,5 million tons.

Keywords: nuclear power complex, regulatory policy, sustainable development, EU Climate Taxonomy, PSO mechanism, green bonds, cost of capital.

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Received 08/04/2026
Accepted for publication 08/17/2026
Published 09/30/2026

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