The Ministry of Energy will allow Energoatom to increase the volume of electricity sales under bilateral agreements

During a meeting of the Anti-Crisis Headquarters, Acting Minister of Energy Olha Buslavets said that the Ministry had developed a number of solutions to increase the amount of electricity that NNEGC Energoatom could sell on the market of bilateral agreements. This allows the company to improve its financial condition, the press service reports.

“The Ministry of Energy has developed a resolution and the Cabinet adopted it. This improves the procedure for holding auctions under bilateral agreements. This allows Energoatom to sell 5% of the electricity volume in the market of bilateral agreements at special auctions. In June, auctions were held, as a result of which Energoatom sold electricity for almost UAH 2 billion,” Olha Buslavets recalled.

At the same time, the law on a new model for supporting "green" energy increased the amount of electricity that NNEGC Energoatom will be able to sell under bilateral agreements, by reducing the share of mandatory sales on the DAM from 15% to 10%. This is an additional 5% of electricity for sale under bilateral contracts.

Thanks to these solutions, NNEGC Energoatom receives an additional guaranteed sales market for the generated electricity and opportunities for improving its financial condition.

A draft government decree is currently being negotiated, which introduces a transitional PSO model in the electricity market before the introduction of PSO financial mechanism.

According to the Acting Minister, the document will stipulate that Energoatom will be able to sell up to 40% of electricity on the market of bilateral agreements.

This transitional PSO model will reduce the surplus in the day-ahead market and improve the financial condition of Energoatom. The company must make the appropriate calculations and provide proposals for balancing its financial condition in the context of this model.

As a reminder, on June 12, at a government meeting, some amendments to the law "On the Electricity Market" were approved. Energoatom got the opportunity to increase the volume of electricity sold to industry under bilateral contracts.

Tags: The Cabinet of Ministers, contracts, NPP, NNEGC "Energoatom", legislation, electricity, NEURC, EU, ETL, electricity market, debt, draft law, negotiations, price, agreement, route, volumes, The National Energy and Utilities the Natuonal Regulatory Commission, power system balance, infrastructure, energy sector, electricity transmission, IPS, Shmyhal, nuclear power plant, balancing restrictions, power system, generation, crisis, Buslavets, The Ministry of Energy, economy, market, power grid, electricity consumption, supplier, consumers

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