Energoatom to Widen Electricity Export Destinations towards Baltic Countries’ Markets

NNEGC Energoatom plans to widen the destinations of its electricity export to the North, to the Baltic countries and the high liquid market Nord Pool, the company’s base load electricity is considered to have the competitiveness in the region. As the press-service of Energoatom mentioned, it was noted by the Head of Energoatom-Trading Division Maxym Zorin on July 24, 2020.

“Belarus is an ability to move further to the North in the markets of the Baltic Countries, in the Nord Pool market (the market united 14 countries including the Baltic states, the Scandinavia peninsula, the Great Britain, Germany and others – ed.). The Baltic states bind with Europe and Scandinavia by the direct current lines. They are liquid, forecasted, modern electricity markets with demand for base capacities among others products. We consider it is strategically important to come in these markets. There is Belarus on the way thus we have to take root in the local market and move further”, he said.

According to Zorin, Energoatom-Trading analyzed the prices for long term contracts in the Baltic markets and concluded that it is reasonable to present in the region, and competitive advantages are in existence.

He added, Energoatom has the surplus of the unengaged capacities to provide the export.

“Nowadays we have 2 nuclear units with capacity of 1000 MW prepared to work. We also have some underutilized working units. It is not exactly correct to say that we don’t have sufficient possibilities to satisfy demand of Ukrainian consumers. In any case, Energoatom guarantees fulfilment of public service obligations particularly electricity supply of people, we prioritize our own consumer”, said the Head of Energoatom-Trading.

Zorin also explained why Energoatom could not export electricity by itself and had to sell the volume to the trader (Gas Supplying Company Naftogas of Ukraine).

“We are regulated by the secondary legislation as we’re the state-owned entity, and we cannot conclude overseas contracts without the procedure by the law namely the auction. The conditions of the auctions don’t envisage the ability of taking part nonresidents i. e. international players. We had to go through the corresponding trader towards external markets”, he said, adding the company initiated the amendments to the secondary law so that it can sell electricity directly to foreign traders.

“After 15 year-long pause we found the possibility to begin the export from Ukraine, it was the first step, and we hope to widen the destinations in the nearest time and to become the stable player there, thus we will increase generation of electricity for liquid prices”, summarized Zorin.

13:00 / 25 July 2020

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