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Energoatom accuses NEURC of collapse in electricity prices

Energoatom accused NEURC of the collapse in electricity prices. Photo: energoatom.com.ua

Energoatom accused NEURC of the collapse in electricity prices. Photo: energoatom.com.ua

Energoatom expressed discontent with the conclusions of the National Commission for State Energy and Public Utilities Regulation (NEURC) about the surplus of electricity in the energy system due to the operation of all 15 NPP units.

"It is very strange for us to hear accusations instead of gratitude from the regulator (NEURC—The Page)... we consider this as its attempt to avoid its own responsibility for the events that have occurred in the electricity market recently," the statement reads.

Energoatom explains that the intentions and planning of the country's energy system work in the autumn-winter period, first with 14 and then with all 15 power units, were announced dozens of times since September 2021. This was done to prevent shortages and rolling blackouts. The entire maintenance campaign of NPP units is also planned for this task.

"This made it possible to cover peak loads during the winter period and reduce the load on thermal generation due to a shortage of coal: the operation of all units of nuclear power plants made it possible to use less thermal generation coal," Energoatom reports.

For the record, the saved coal will come in handy during the operation of the Ukrainian energy system in an isolated mode at the end of February this year.

Also, the company was able to keep up with the warming period. When the need for energy decreases. Energoatom limited its own capacity and unloaded the units by a total of 1,400 MW.

Recall that electricity prices in the day-ahead market (DAM) have recently fallen sharply. According to the thermal generation representatives, this fact made them work below profitability.

On Thursday, February 9, the Head of the NEURC Valerii Tarasiuk accused Energoatom and traders Rinat Akhmetov and Ihor Kolomoisky of the drop in prices.

As a result, on February 10, NEURC imposed a lower price cap on the day-ahead market at the level of 987.5 UAH/MWh. Also, a price cap was imposed on the intraday market at the level of 150% of the DAM price. The restrictions will remain in effect until February 16.

According to Energoatom, the regulator could have done this much earlier.

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