Friday, December 1 2023 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Nov 27
Week of Nov 20
Week of Nov 13
Week of Nov 06
Week of Oct 30
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    NEURC plans to set current price caps on power market until April 4, 2024


    September 12, 2023 - Interfax Ukraine Business Daily

     

      KYIV. Sept 12 (Interfax-Ukraine) – The National Energy and Utilities Regulatory Commission of Ukraine (NEURC) approved setting price caps for electricity in the day-ahead (DAM) markets, the intraday market (IDM) and the market for balancing services at the current level from October 4, 2023 to April 4, 2024.

      According to the resolution adopted by the regulator at a meeting on Tuesday, electricity price caps are expected to be set on the DAM and IDM in the period from 23:00 to 7:00 (minimum load on the power grid) at the level of UAH 3,000 per MWh, from 7:00 until 19:00 – UAH 5,600 per MWh, and from 19:00 to 23:00 (peak load) – UAH 7,200 per MWh, which corresponds to the size of the current price caps.

      Accordingly, the floor prices for DAM and IDM are planned to be set at UAH 10 per MWh.

      On the market for balancing services, the regulator intends to fix the price cap at 125% of the DAM price and the floor price at UAH 0.01 per MWh.

      "This is approval of the draft resolution. We are actually entering the regulatory procedure. According to the materials provided to us by JSC Market Operator and NPC Ukrenergo, high price fluctuations in the market have been recorded, and we are starting the regulatory procedure," Head of the National Commission Kostiantyn Uschapovsky said at the meeting.

      As explained in the National Commission, the grounds for revising the price caps are the achievement by the price of DAM, IDM and the market for balancing services of a level that is 95% or more of the price caps for DAM, IDM and the market for balancing services or 105% or less of the floor price for DAM, IDM and the market for balancing services over the last three decades in at least 30% of billing periods.

      As reported, on July 1, 2023, NEURC set new price caps for electricity on the day-ahead market, the intraday market and the market for balancing services.

      On DAM and IDM, price caps in the period from 23:00 to 7:00 (minimum load on the power grid) were increased from UAH 2,000 to UAH 3,000 per MWh, or by 50%, from 7:00 to 19:00 - from UAH 4,000 to UAH 5,600 per MWh, or by 40%, and from 19:00 to 23:00 (peak load) - from UAH 4,000 to UAH 7,200 per MWh, or by 80%.

      Accordingly, the floor prices for DAM and IDM are set at UAH 10 per MWh.

      On the market for balancing services, the regulator set the price cap at 125% of the DAM price and the floor price at UAH 0.01 per MWh.


      2023-09-12 17:44:26 Interfax-Ukraine

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.