Day-Ahead Electricity in the Integrated Power System of Ukraine fell to the historical minimum, 919.8 UAH/MWh

The weighted average price in the day-ahead market in the Integrated Power System of Ukraine after the close of bidding on November 14 fell to the minimum value since the new electricity market was launched on. It slashed to 919.8 UAH/MWh.

The bidding results were published on the website of Market Operator SE.

During the bidding, the supply (189.5 million kWh) was 71% higher than the demand (110.5 million kWh).

According to one of electricity traders, the price drops in the domestic electricity market were caused by were the following factors: falling world prices for coal, and, as a consequence, lowering production costs in thermal generation; shutdown of some big enterprises as large industrial consumers of electricity, and a general fall in demand for electricity by other businesses; putting back into operation the nuclear power units after their repairs , and thus an increasing supply of electricity by Energoatom into the market, even under current systemic dispatch curtailments into the national grid.

These factors lead to a significant surplus of electricity offered in the market.

As ExPro reported, the auction of November 9 ended with the lowest average price for the day-ahead electricity in the Integrated Power System of Ukraine at 1229.09 UAH/MWh.