On June 18, testing platform for auctions to conclude bilateral contracts at the electricity market will be launched - UEE

Ukrainian Energy Exchange will begin testing the platform, which will hold auctions to conclude bilateral contracts for the purchase of electricity from energy producing companies.

UEE launched a simulation version of the software “Exchange Electronic Trading System” in the Electric Power version, training seminars on working in the system will be held daily until July 1.

The Ukrainian Energy Exchange will become a temporary platform, for a period of up to three months, for holding auctions.

Recall that the Cabinet of Ministers adopted a resolution on electronic auctions for the sale of electricity under bilateral agreements with state energy companies, including for the performance of Public Service Obligations for the supply of electricity to the population.

The developed document will regulate the rules of operation of three state-owned enterprises – NNEGC Energoatom, OJSC Ukrhydroenergo and OJSC Centrenergo.

Other participants on a voluntary basis will also be able to participate in auctions.

From July 1, 2019 a new electricity market in Ukraine has to be launched. In accordance with the law “On the Electricity Market”, the introduction of a new competitive market model and the norms of the Third Energy Package of the EU is envisaged. The consumer will have the right to freely choose his electricity supplier.

Source: reform.energy


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Tags: The Cabinet of Ministers, contracts, tariffs, NNEGC "Energoatom", legislation, electricity, electricity market, Ukrhydroenergo, Centrenergo

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