Energy Market Department proposes to leave price caps at current level despite import reduction

The Energy Market Department proposes to leave the limit prices on the electricity market at the current level despite a significant reduction in electricity imports and the application of capacity limitation schedules. The Commission made the corresponding proposal following the results of an open discussion of the draft resolution on maximum prices, which took place on November 13, ExPro reports.

The Energy Market Department made the following proposal regarding the establishment of limit prices from December 1, 2024:

DAM and IDM:

maximum limit prices from 00:00 to 07:00, from 11:00 to 17:00 - UAH 5,600.00/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 – 9,000.00 UAH/MWh;

minimum limit price – 10.00 UAH/MWh;

Balancing market:

maximum limit prices from 00:00 to 07:00 – 6,600.00 UAH/MWh; from 07:00 to 17:00 and from 23:00 to 24:00 – 8,250.00 UAH/MWh; from 17:00 to 23:00 – 10,000.00 UAH/MWh;

minimum limit price – 0.01 UAH/MWh.

As previously reported in ExPro, the NEURC has initiated a regulatory procedure to review price caps. The new changes could come into effect in November, but the open discussion has been extended. According to ExPro sources, at that time the Regulator did not come to a common decision regarding the change of the limit prices on short-term electricity markets. During November 1-12, Ukraine imported 45.7 thousand MWh of electricity. For comparison, during October 1-12, 51.2 thousand MWh was imported, with a lower need to cover the deficit. O

n some days in November, the daily import volume dropped to 1 thousand MWh.

According to ExPro Electricity calculations, which were presented in the ExPro Electricity Daily issue dated 12.11.2024, prices on neighboring spot markets (Hungary, Slovakia, Romania and Poland) on November 13 exceeded Ukrainian prices almost at all times of the day. The difference reached 500-700 EUR/MWh during the evening peak hours.