Ukrenergo Earns First UAH 0.5 Billion At Auctions For Access To Interstate Transmission Lines

The Ukrenergo national energy company has earned the first UAH 0.5 billion at auctions for access to interstate transmission lines.

This is stated in the company's message, Ukrainian News Agency reports.

“Ukrenergo continues to earn money for the state. More than UAH 500 million will be brought to it by the sale of access to interstate electricity networks at cross-border crossings with Romania and Slovakia only in the first 27 days of electricity exports to the EU. This is the result of high competition at auctions for access to interstate power grids, which Ukrenergo conducts according to transparent European rules. Between 6 and 13 bidders participated in each of the auctions. At the same time, in the direction of Romania in most trades - 10 or more companies, and in the direction of Slovakia - more than 6 companies," it says.

In total, more than 200 participants have already been registered to participate in auctions.

“Ukrenergo has opened electricity exports to EU countries so that the state and electricity producers earn funds to prepare for the heating season. The price of electricity in the EU exceeds Ukrainian by several times. Currently, Ukrenergo sells at auctions all available capacity of crossings with Romania and Slovakia - 100 MW. This means that there is demand for Ukrainian electricity, and Ukrainian producers have something to offer Europeans. Export revenues will allow the state to prepare for the heating season in time - to buy coal, finance repairs to power units of power plants and networks. At the same time, revenue from access to interstate networks during the war could be diverted for settlements in a balancing market to give power producers an additional resource to prepare for winter. But this requires changes to the law "On the electricity market," the company notes.

The weighted average daily price of access to interstate power grids at cross-border crossings with Romania and Slovakia for 24 days amounted to UAH 7,700 per MW.

As Ukrainian News Agency earlier reported, Energy Minister Herman Halushchenko says that Ukraine seeks to bring the capacity for electricity exports to Europe to 6 GW in the future.

On June 30, Ukraine began exporting electricity to Europe.