Market Operator successfully re-confirmed its anti-corruption certificate: USAID ESP funded independent audit

September 12, 2023

The Joint-Stock Company Market Operator (JSC MO) is responsible for selling and buying electricity on the Day-Ahead Market (DAM) and the Intraday Market (IDM) and helps to balance demand and supply in the electricity market.

Given its key role in supporting competition and transparency in Ukraine’s electricity, the MO’s Anti-Corruption Management Systems (ACMS) must meet the International Organization for Standardization (ISO) 37001:2016 standard requirements.

It is an important sign to participants in other markets (Ukraine and other countries) that the MO does not tolerate manipulations and insider trading. In addition, the certification encourages other organizations to prevent, detect, and address corruption by adopting internal anti-bribery policies. Finally, the proven conformity of the MO’s ACMS with the international best standards clearly demonstrates credibility and transparency, building trust among market participants.

In 2021, the MO gained an international certificate recognizing its compliance with anti-corruption requirements per the ISO 37001:2016 standard.

Last November, despite the war and the destruction of its office by Russian missiles, the company successfully passed its certification audit; this extended the certificate’s validity for another year.

This year, in the face of multiple challenges, the MO ensured that its operations met the ISO 37001:2016 Anti-Bribery Management System standard and regained certification. This recertification was based on assessments and evaluations of an independent audit funded by USAID through its Energy Security Project (ESP).