NEURC raises minimum electricity prices: what it means for business
26 February 17:11
The National Energy and Utilities Regulatory Commission (NEURC) plans to increase the minimum price caps on the electricity market by more than 100 times. This is reported by Komersant ukrainskyi with reference to a letter from the Federation of Employers of Ukraine (FEU) to the NEURC.
The planned price increase in the electricity market has already caused a significant outcry among industrial consumers and experts who fear negative consequences for Ukraine’s economy and the compliance of such measures with European practices.
The FEU appealed to the national regulator for explanations, as the planned increase in price lists on the day-ahead and intraday markets from UAH 10/MWh to over UAH 1000/MWh will result in the loss of over UAH 6.2 billion per year by Ukrainian enterprises.
In its appeal, the organization noted that there is no similar practice in the European Union, which raises additional questions about the compliance of such an initiative with European standards of electricity market regulation.
In addition, the Federation of Employers of Ukraine demands that the NEURC cancel the decision of December 19, 2024, No. 2200, which increased the tariff for electricity transmission services of NPC Ukrenergo by almost 30%. The Federation argues that this decision is unreasonable and non-transparent.
As a reminder, at the end of 2024, access to information on electricity trading was restricted in Ukraine. Starting from December 30, Market Operator JSC, citing martial law, stopped publishing data on trading in the day-ahead and intraday markets. In its turn, the Ukrainian Energy Exchange closed free access to auction bulletins and weighted average price bulletins.
