NEURC raises electricity price caps for businesses

NEURC raises electricity price caps for businesses

Kyiv  •  UNN

May 20 2024, 01:07 PM • 15976 views

On June 1, the National Energy and Utilities Regulatory Commission (NEURC) set new electricity price caps for enterprises, with prices for different time periods on the day-ahead, intraday and balancing markets.

The National Energy and Utilities Regulatory Commission (NERC) has set new electricity price caps for businesses starting June 1, UNN correspondent reports.

Thus, a resolution was adopted to set price caps on the day-ahead market, the intraday market and the balancing market.

The following prices were approved for the day-ahead and intraday markets:

-       maximum marginal prices from 00:00 to 07:00, from 11:00 to 17:00 - 5 600.00 UAH/MWh;

-       from 07:00 to 11:00 and from 23:00 to 24:00 - UAH 6,900.00/MWh;

-       from 17:00 to 23:00 - UAH 9,000.00/MWh;

-       minimum price ceiling - 10.00 UAH/MWh;

 In the balancing market:

-       maximum price caps from 00:00 to 07:00 - 6 600.00 UAH/MWh;

-       from 07:00 to 17:00 and from 23:00 to 24:00 - UAH 8,250.00/MWh;

-       from 17:00 to 23:00 - 10,000.00 UAH/MWh;

-       minimum price ceiling - 0.01 UAH/MWh.

During the NEURC meeting, it was noted that such a price cap profile, according to the Department's analysis, would make it possible to ensure the maximum amount of imported electricity from neighboring EU countries.

The Government has adopted a number of decisions to address the problems with electricity supplyMay 20 2024, 08:13 AM • 19066 views

Prior to that, starting from November 30, 2023, the maximum marginal prices for DAM were set at this level:

1) on the day-ahead market (DAM) and the intraday market (IDM):

-       maximum price caps from 00:00 to 07:00 and from 23:00 to 24:00 (hours of minimum load) - 3000 UAH/MWh;

-       from 07:00 to 08:00 and from 11:00 to 17:00 (medium load hours) - 5600 UAH/MWh;

-       from 08:00 to 11:00 (hours of high load) - 6900 UAH/MWh;

-       from 17:00 to 23:00 (peak hours) - 7500 UAH/MWh;

-       minimum price ceiling - 10 UAH/MWh;

2) in the balancing market: the maximum marginal price is 125% of the DAM price determined by the market operator for each settlement period of the relevant delivery day;

the minimum price ceiling is 0.01 UAH/MWh.

Massive russian attacks caused more than a billion dollars in losses to the energy sector - Ministry of EnergyMay 5 2024, 08:43 AM • 25087 views