Place of derivatives in the process of reforming power industry of Russia

Abstract

Key aspects of reforming of the Russian power industry are discussed. The model of the wholesale market of the electric power and power of a transition period is considered. It is rather in detail described the main segments of a modern power market of Russia: the market of bilateral contracts, day-ahead market, the balancing market. Justification is given that the swing contract can be considered as the modified off-exchange option of these three main segments of the Russian market.