Changes to electricity auctions. Peak Load Sales Schedule (PEAK) now from 08.00 to 20.00

On March 10, 2021, a meeting of the Auction Committee for the sale of electricity under bilateral contracts was held, at which amendments and additions to the Regulations for organizing and holding an electronic auction for the sale of electricity on the CE Ukrainian Energy Exchange, approved by the decision of the Exchange Committee of the Ukrainian Energy Exchange dated 09.03.2021.

These changes were made in order to bring certain provisions of the Regulations in line with the current edition of the Procedure for holding electronic auctions for the sale of electricity under bilateral contracts, approved by the Resolution of the Cabinet of Ministers of Ukraine dated June 5, 2019 №499, as amended, taking into account the changes introduced by the Resolution of the Cabinet of Ministers of Ukraine dated March 3, 2021 № 182.

The provision on holding auctions in the form of special sessions for the sale of packages of lots under bilateral contracts has been excluded from the text of the Regulations.

The period of the electricity sales schedules has been changed. According to the PEAK schedule, execution is set from 08:00 to 20:00 on weekdays, before it was from 7:00 to 22:00. According to the OFFPEAK schedule - execution from 00:00 to 08:00 and from 20:00 to 24:00 on weekdays, as well as from 00:00 to 24:00 on weekends, previously the schedule provided for execution from 00:00 to 07:00 and from 22 : 00 to 24:00 on weekdays, and from 00:00 to 24:00 on weekends.

Changes have also been made regarding the time of signing the entered positions with a qualified electronic signature. According to the changes in the Regulations, a position for sale has been introduced into the PP BETS, does not apply to the auction in the form of a special session (PSO), must be signed with a qualified electronic signature no later than 48 hours before the start of the auction. After signing, its terms cannot be changed, and the starting price or starting coefficient for this position is fixed to calculate the guarantee fee.

"The decision taken by the Auction Committee, among other things, unifies the provisions of the Regulations in terms of time periods for peak and off-peak sales schedules with the same types of sales schedules for Within-Day market and Day-Ahead market, this simplifies the calculation of electricity purchases for future periods for market participants. Also, by the decision of the UEEX Exchange Committee, changes were made to the Regulations for the commercial section, in connection with which, from now on, the sales schedules of peak and off-peak load have the same time periods for the Within-Day market and Day-Ahead market and market of bilateral contracts (specialized and commercial sections of the UEEX) - noted Oleksandr Kovalenko, CEO of of UEEX.