The Ministry of Energy suggested four steps to resolve the crisis in the electricity market

The Ministry of Energy of Ukraine sees a solution to the crisis on the electricity market and the possibility of stabilizing the market in the introduction of several legislative changes, the press service reports.

The Ministry of Energy suggests introducing the following rules on the electricity market:

  • the requirement to sell electricity exclusively at auctions through exchanges for all producers, regardless of their form of ownership:
  • clear rules for establishing exchanges to ensure reliability and impartiality;
  • a new indicator of the price of electricity – the price on the market of bilateral agreements
  • abolition of the requirement for state generation, which has special responsibilities in the electricity market, to sell 10% of the total supply on the DAM.

“After the introduction of legislative changes, the market will need about a month to start fully operating under the new rules. The creation of exchanges, the perception and assimilation of new rules by market participants, the realization that civilized trade and long-term guarantees are a real opportunity to build a promising and successful business, a civilizational departure from the practice of finding a situational temporary benefit, which is needed only by hastily created one-day traders. Such changes will really bring Ukraine closer to the civilized European markets, as well as create a potential for the prospective development of generation, regardless of the form of ownership of the companies,” Yurii Vlasenko emphasized.

To recap, the Ministry of Energy has approved the criteria for inclusion in the “blacklist” of electricity buyers.

Tags: The Cabinet of Ministers, DTEK, legislation, NEURC, Top management, electricity market, debt, DAM, price, power system, The Ministry of Energy

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