KOREM JSC certifies settlement system ahead of 2026 deadline

KOREM JSC certifies settlement system ahead of 2026 deadline

Jeffrey Morgan
Jeffrey Morgan
2 Min.
Detailed technical drawing of a machine with numerous wires and text, labeled in Russian as a patent for a radio receiver, showing components like an antenna and circuitry.

KOREM JSC certifies settlement system ahead of 2026 deadline

KOREM JSC has finished and certified its settlement centre system well before the deadline. The Supreme Audit Chamber had earlier ordered the company to complete the project by March 31, 2026. The move follows concerns over the previous uncertified software used in the electricity balancing market. The Supreme Audit Chamber had raised alarms about KOREM JSC’s settlement software for the electricity balancing market. Without proper certification, the system lacked state oversight and risked technical failures. There were also fears that uncertified operations could undermine trust among market participants.

Instead of waiting until the 2026 deadline, KOREM JSC accelerated its work. The company developed and certified the new settlement centre system ahead of schedule. The updated software now meets regulatory standards and addresses earlier vulnerabilities. The new system brings several improvements. It strengthens the reliability of the balancing market and reduces cybersecurity threats. Transparency has also increased, allowing better state control over operations.

KOREM JSC’s early completion of the settlement centre system removes previous risks tied to uncertified software. The certified system now ensures safer, more transparent operations in the electricity balancing market. State oversight and technical stability have both been reinforced as a result.