No electricity trading on spot market in Ukraine during emergency situation - commission resolution

MOSCOW. Dec 20 (Interfax) - There will be no trading in electricity on the spot market during the emergency situation in the Ukrainian unified power grid, and the results of the previous trading in electricity in all market segments as of the date when the emergency situation took effect will be annulled, Ukrainian media reported with reference to a resolution by the Ukrainian National Commission for State Regulation of Energy and Utilities dated December 17, 2022.

The document amends the commission's February 25, 2022 Resolution on the Stable Functioning of the Electricity Market, Including the Financial Status of Electricity Market Players, During Martial Law in Ukraine.

"The Market Operator shall annul the results of the trading on the day-ahead market and intraday market for electricity that was to be supplied on the day when the Ukrainian unified power grid is in a state of emergency," the resolution says.

The document also instructs the Market Operator not to conduct day-ahead market and intraday market trading starting the day when the national power grid operator Ukrenergo announced an emergency situation in the unified power grid until 11:00 p.m. of the day when Ukrenergo lifts the emergency situation.

The resolution instructs the Market Operator to refund those day-ahead market and intraday market traders whose electricity purchase bids were accepted based on the results of the annulled day-ahead and intraday trading.

The document also instructs Ukrenergo to annul the amounts of electricity registered under bilateral contracts and accepted offers on balancing electricity starting the day the emergency situation was declared in the unified power grid until the first day when the emergency situation is lifted inclusive.

"Regardless of how long the emergency situation lasts in the Ukrainian unified power grid, starting from the day when Ukrenergo declared an emergency situation in the Ukrainian unified power grid until the first day (inclusive) when Ukrenergo lifts the emergency situation, the arithmetic mean of the day-ahead price within the relevant calculating period over the previous 30 days when the Ukrainian unified power grid was not in an emergency situation shall be used in calculating the payment for imbalance," it said.