subscribe to newsletter
25.75 26.15
28.75 29.4
Politics 2019-07-19T04:03:17+03:00
Ukrainian news
The regulatory base for the launch of a new electricity market on July 1 is 100% ready - NEURC adopted the nec

The regulatory base for the launch of a new electricity market on July 1 is 100% ready - NEURC adopted the necessary regulations

At today's meeting of the Regulator the latest decisions necessary to launch a new electricity market were made. Precisely, the adoption of changes to the Regulations №307 and 308, concerning the Market Rules and the Rules of the day ahead and intraday markets.

In particular, the Regulator established price caps for electricity producers operating in the new market. Thus, the rise in electricity prices for industrial consumers will be controlled.
In addition, new requirements for banks rating were established that will increase their list for providing financial guarantees to market participants from 2 to 41.
“Adoption of regulatory acts allows to ensure compliance with the requirements of the Law of Ukraine “On the Electricity Market”and determine: updated procedure for participation in balancing groups; updated procedure for determining financial guarantees; updated procedure for providing ancillary services; clarifying the procedure for providing dispatch orders and their implementation; new monitoring of the procedure the provision of ancillary services, determined on the basis of proposals of the transmission system operator; transitional provisions, in particular, by position relative to the constraints of prices on the balancing market and ancillary services market ", - stated in the study.
As reported, on July 1, a new electricity market should be introduced, which is a part of Ukraine’s international obligations to implement the Third Energy Package of the European Union (EU). For the timely launch of the market, the government on the basis of the state-owned enterprise (SE) Energorynok created 2 state-owned enterprises “Market Operator” and “Guaranteed Buyer”.
USAID recommended to launch electricity market in a safe mode on July 1. American experts believe that the opening of the wholesale electricity market in a safe mode will increase the efficiency of the market and reduce the unpredictability of pricing. It will also help to identify problematic issues in the rules of the market and the legal framework.
Prime Minister Volodymyr Groysman promised that the new electricity market would be introduced on time, and price shocks for consumers will not follow. Prices for the population will remain at the existing level due to the PSO (Public Service Obligation mechanism, special obligations) adopted by the Cabinet of Ministers of Ukraine.