Prices for electricity in spot market in some hours reached the price cap of 4000 UAH/MWh
The average weighted price of day-ahead electricity in the Integrated Power System of Ukraine during August 1-3, 2021, in some hours increased to the limit values (price caps) of 4000 UAH/MWh and 2000 UAH/MWh during the daytime and nighttime hourly consumptions, respectively, as reported by the SE Market Operator.
The weighted average price of electricity in the Integrated Power System of Ukraine on August 1, 2021, increased compared to July 31, 2021, by 32.2%, up to 2119.1 UAH/MWh.
The next day (August 2, 2021) it grew by 21.7%, up to 2578.5 UAH/MWh.
On August 3, 2021, compared to the previous day it dropped by 8%, down to 2371.2 UAH/MWh. At the same time, the trading volume during July 31 - August 3, 2021, averaged 70.3-76.9 000 MWh.
In some hours, prices reached the price caps, in particular, in the morning and evening peak consumptions, as well as during 23:00-01:00 consumption, and 07:00 morning consumption.
On August 3, 2021, prices reached the maximum level during 01:00 and 07:00 nighttime hourly consumptions, and during 09:00-11:00 daytime hourly consumptions.
On August 1, 2021, the price for baseload increased by 34.4% compared to August 31, 2021, up to 2084.20 UAH/MWh, peak load grew by 25.9%, up to 2287.80 UAH/MWh, and off-peak load surged by 46.4%, up to 1880.60 UAH/MWh.
During August 2-3, 2021, the price of baseload increased to the level of 2300 UAH/MWh -2500 UAH/MWh, peak load – up to 2900 UAH/MWh -3000 UAH/MWh, and off-peak load – up to 1800 UAH/MWh-2100 UAH/MWh.
As previously reported by ExPro, on July 30, 2021, the National Energy and Utilities Regulation Commission (NEURC) raised the maximum marginal prices (price caps) from August 1, 2021, up to 2000 UAH/MWh for nighttime hours (23:00-07:00), and up to 4000 UAH/MWh for daytime hours (07:00-23:00).
This decision was made against the background of statements by thermal power generation companies, which reported the unprofitability of their work and the need to raise prices for the purchase of coal and preparation for the heating season 2021-2022.