Yesterday, September 28, the Cabinet of Ministers adopted a resolution "On Amendments to the Procedure for Holding Electronic Auctions for the Sale of Electricity under Bilateral Contracts", and today the resolution was published in the official press. The resolution opens up the possibility of selling electricity produced from alternative energy sources under bilateral contracts at auctions in the form of special sessions.

According to the document, the sequence of holding special sessions and the timing of electricity supply are determined. Three such sessions can occur during the month:

  • the first session - before the 1st day of each settlement month, with a due date of one month following the month in which such an auction is held;
  • the second session - up to the 8th day of each settlement month, with the deadline for the second and third decades of the month in the month in which such an auction is held;
  • the third session - up to the 18th day of each settlement month, with the deadline for the third decade of the month in which such an auction is held.

The application for the auction is submitted by the Guaranteed Buyer with an indication of the starting price, which will be determined by a special formula established by the procedure for holding a special session. According to the formula, the price takes into account the weighted average price and sales volume in the wholesale market segments for each trading hour and the number of billing periods of the product within one trading day.

The order provides for the sale of electricity at a price not lower than the starting price, that is, the auction will take place at a price increase.

“Today, the share of imbalances for RES remains quite high. We have received a mechanism that enables the Guaranteed Buyer to sell electricity under bilateral contracts on the exchange, and thereby compensate for surplus electricity. This makes it possible to stabilize the current situation on the “green” energy market and attract new participants to auctions at the UEEX", - emphasizes CEO of UEEX Oleksandr Kovalenko.

The procedure for conducting auctions in the form of a special session on the sale of electricity produced from alternative sources on CE "UEEX"