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Economy 2020-06-25T04:03:57+03:00
Ukrainian news
Energy Commission Accuses DTEK Of Destabilizing Day-Ahead Electricity Market Via Manipulation

Energy Commission Accuses DTEK Of Destabilizing Day-Ahead Electricity Market Via Manipulation

energy commission, destabilization, DTEK, electricity market, day ahead merket

The National Commission on State Regulation of Energy and Utility Services (Energy Commission) has accused the DTEK energy holding company of manipulating the day-ahead market, which destabilized the electricity market.

The commission announced this in a statement, Ukrainian News Agency reports.

According to the statement, actions that led to a collapse in electricity prices have been observed on the day-ahead market in recent days and, according to the Energy Commission, this price collapse is artificial because it does not reflect the actual demand and supply of electricity in the Ukrainian energy system.

"The Energy Commission analyzed the situation and concluded that such a price collapse on the market was caused by the actions of the DTEK group of companies, which significantly reduced electricity purchases on the day-ahead market," the commission said.

According to the statement, the Energy Commission will submit a draft decision on setting the minimum prices of UAH 980 per MW during the day and UAH 567 per MW at night for the day-ahead market at its next meeting, given the large-scale campaign to destabilize the market.

Besides, the Energy Commission and the Antimonopoly Committee will soon take measures in response to the actions of market participants.

As Ukrainian News Agency earlier reported, Member of Parliament Andrii Herus from the Servant of the People faction, who heads the Parliamentary Committee on Energy, Housing, and Utilities, has accused the DTEK energy holding company of manipulating the day-ahead electricity market, resulting in destabilization of the electricity market.

Herus has also asked the Security Service of Ukraine and the Antimonopoly Committee to investigate possible manipulations on the electricity market.

The weighted average daily price of electricity on Ukraine’s day-ahead market fell by UAH 130 per MWh or 16.22% to UAH 671.14 per MWh on May 28, compared with May 25.

DTEK manages the energy assets of System Capital Management (SCM).

SCM is 100% owned by businessman Rinat Akhmetov.


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