Ukraine may join EU electricity spot market in test mode in Q2 2023 - acting CEO
MOSCOW. Nov 22 (Interfax) - Ukraine has a chance to join the joint European spot market as a contracting party of the Energy Community and launch the market coupling in the test mode in Q2 2023, the Ukrainian media reported citing Alexander Gavva, acting CEO of state-owned company Market Operator.
In December 2022, the EU should approve the EU Regulation 2015/1222, which established a guideline on Capacity Allocation and Congestion Management (CACM), the proper implementation of which will enable the launch of the market coupling in the test mode in Q2 2023, he said.
According to Gavva, the work of the Ukrainian electricity market operator is simplified by the fact that the company has been operating in accordance with European spot market standards since the very first day of its operation.
Ukraine has declared the conducting of market coupling with the countries in South-Eastern Europe in 2020 in the strategic development plan, which was adopted by the government.
"Our trading platform is close to the mechanism used by the Slovak market operator, OKTE, and all business processes comply with the status of the nominated market operator. That is why Market Operator has recently received the approval from all European operators to become an observer in the NEMO Committee for a preparatory period," Gavva said, as quoted by the Ukrainian media.
NEMO is a European entity that manages the European joint market.
"We are preparing to sign a relevant agreement," he said.
He also said that Market Operator is ready for this new challenge both organizationally and technologically. The company is currently collaborating with the Energy Ministry, the Ukrainian National Energy and Utilities Regulatory Commission (NEURC) and the Secretariat of the Energy Community so that Ukraine could join the joint European spot market in the near future.
"Market coupling will bolster the Ukrainian energy system and increase the EU's energy independence. This is our win-win strategy," Gavva said.