Full Synchronization Of UEE Of Ukraine With ENTSO-E May Lead To Lower Electricity Prices - Haluschenko

Minister of Energy Herman Haluschenko predicts that after full synchronization of the Unified Energy System of Ukraine with the European Network of Transmission System Operators for Electricity (ENTSO-E, network members are 42 system operators from 35 countries), electricity prices may slightly decrease.

The Energoatom NAEC has said this in a statement, Ukrainian News Agency reports.

"Synchronization of the United Energy System of Ukraine with the European ENTSO-E will have an insignificant impact on prices in the domestic electricity market. But when markets are synchronized and electricity is commercially exchanged, electricity prices may decrease somewhat. This will be facilitated by more economical operation of generating equipment, a decrease in the number of restrictions on renewable energy, for which you still have to pay, as well as a decrease in the volume of so-called hot reserves of power," the Minister of Energy said.

Also, according to him, synchronization with the European energy system will help Ukraine receive emergency assistance in the event of an imbalance in the energy system as a result of emergency shutdowns.

In turn, the Ukrainian UES, if necessary, will provide emergency assistance to European energy systems.

According to Haluschenko, thanks to the synchronization of the Ukrainian and European energy systems, the need to maintain reserves will decrease.

“For example, in the event of an emergency shutdown of a million-plus nuclear power unit (with a capacity of 1,000 MW), the Ukrainian energy system will immediately be able to receive emergency assistance from European ones and, accordingly, not keep these significant amounts of reserves “on the shaft” of thermal generation. Besides, there is a margin of time for deployment of power reserves at domestic hydroelectric power plants and thermal power plants," he stressed.

As Ukrainian News Agency earlier reported, on March 16, Ukraine became a member of the "energy European Union", having fully synchronized with the ENTSO-E energy grid of continental Europe.