Today, July 13, a meeting of the Auction Committee for the sale of electricity was held, which has approved decision to introduce a "black list" mechanism. It stipulates the creation of a list of systematic violators in the electricity market, which will have temporarily denied access to the participation in trades on electricity auctions under bilateral contracts, procedure of its conduction is approved by the Cabinet of Ministers of Ukraine.

Auction committee voted for the amendments to the Regulations of organizing and conduction of electronic auction on electricity sale on LLC Ukrainian Energy Exchange.

In order to initiate the blacklisting of a buyer who has violated its obligations under bilateral contract of electricity purchase and sale, the seller must submit a substantiated application to the Ukrainian Energy Exchange, which is the organizer of the auctions and taking into account the exclusive list of grounds:

  • lack of registration by the buyer in the electronic platform of Ukrenergo of the purchased volumes of the electricity
  • lack of timely payment by the buyer (confirmed by a bank statement)
  • termination of the contract by the buyer unilaterally
  • According to the adopted changes, the unconscientious buyer will not be admitted to the next auctions for the sale of electricity, initiated by any of the sellers, during 6 months. In the event of settlement of the circumstances resulting from the inclusion of the buyer in the "black list", in particular, the buyer’s fulfillment of obligations under the contract, he may be re-admitted to the participation in the auction. It happens on the written application of the seller and the attached documents confirming the fact of settlement of circumstances. The accepted conditions are valid until September 1, unless otherwise determined by the Auction Committee.

    "This forced interim decision adopted by the Auction Committee will allow maintaining the good behavior of electricity market participants. Compliance with the rules, prevention of manipulation, is an important component of full and stable operation of the market," said UEEX Operating Director V. Briukhovetskyi.