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Abstract. The role of export credit guarantees in the improvement of business environment of the European Union (EU) is an important topic, since in recent years export to a number of the EU member states has become unpredictable. The aims of the research are to study the existing export credit guarantee system in the EU, to identify its advantages and drawbacks, as well as elaborate a solution to its improvement. Quantitative and qualitative data analysis methods, as well as analytical and graphical methods have been used in the research. Based on the analysis, it is concluded that the resuming of the availability of export credit guarantees is highly desirable in order to help the EU crisis-affected member states to recover from the financial and economic problems and to promote the development of the entire EU.

Historically, the absolute price flexibility and perfect competition was always considered as purely theoretical issue. Even in well developed markets flexibility of demand is usually hindered by lack of information on differences in offers available on the market. Similar pattern characterises power market as well. Electricity users are usually consuming the same amount of power regardless the changes of the power price, which makes the electricity consumption inelastic to the electricity price. Consequently, to meet a given demand, the same constant volume has been classically ensured on supply side by stable centralized power generation. However, due to climate protection policy the share of renewable energy sources in power generation is growing rapidly. It means more variable energy supply and more explicit electricity price fluctuations. The development of smart technologies and aggregation tools ensure a great opportunity to adjust the electricity consumption to the generated energy in a certain time. In this way, the available energy sources can be used to their fullest potential, the electricity system can be stabilised by levelling out the peak load hours and the electricity prices can be stabilised avoiding big fluctuations. The aim of the research is to analyse aggregators as a tool to facilitate power price flexibility through electricity demand response development, therewith demonstrating how the classical principle of economics' theories on demand-supply flexibility find their practical application. In the research generally accepted quantitative and qualitative methods of economic science, comparative analysis, statistical data processing, synthesis, inductive, deductive, logically constructive, parameter estimation and economically mathematical modelling methods are applied.

Риc. 1. Последовательность процессов и условия изменений в дифференциации экономического пространства. Разработано авторами на основании исследований E. Hill [2]Региональная экономика

on the recent EU European energy policy following the launch of the concept of the Energy Union in February 2015. The authors analyse the issue of interdependency of the dimensions of the EU Energy Union: energy security, solidarity, trust, internal market, moderation of demand, decarbonisation, research, innovation and competitiveness. the various professionals and scientists in order to propose new methodology in evaluation the status of implementation of the energy policy. For the study the authors have used generally accepted quantitative and qualitative methods of economic science, inter alia comparative analysis, parameter estimation, grouping, economically mathema