Purchace and sale of electricity for the UEEX exchange is one of the important areas of work. Moreover, UEEX was defined as a platform for the sale of state-generated electricity for the needs of the population within the existing PSO. Participants in electronic auctions, both in specialized sections and in commercial ones, have been concluding agreements for the purchase and sale of electricity under bilateral agreements for more than 9 months.
The procedure of BCM on the UEEX
At the Ukrainian Energy Exchange the BCM are quite active. The main peculiarity of them is that purchase and sale of electricity is done by concluding of bilateral contracts. According to the current legislation, participants in electronic electricity auctions could be producers, suppliers, transmission and distribution system operators, traders and the end consumers.
The important thing is that bilateral contracts concluding between the market participants in any form, however they must contain:
- volume and price of sold electricity;
- terms of delivery;
- duration of the contract etc.
To take part at electricity auctions at website ueex.com.ua
Acting as an organizer of electronic auctions for electricity, the commodity exchange "Ukrainian Energy Exchange" promptly responds to changes and challenges posed by the market. At one time, in order to meet the needs of all participants, commercial sections for the purchase and sale of electricity were created, where auctions are held for both increase and decrease the price.
The main advantages of launch the auctions BCM at UEEX for participants:
- an opportunity directly take part in formation of market price;
- management of price and production risks;
- minimizing the time for purchase and sale transactions.
According to the participants, due to the rapid launch of the electricity market, there were some difficulties, such as setting up the software or the readiness of the power system for change. However in general start of the new electricity market took place successfully therefore there is every chance to organize the full electricity market of the European sample soon. Electricity trading on exchanges is widely used on European markets and promotes competition.
For present moment, 60 million MWh of electricity have been sold at the Ukrainian Energy Exchange as a result of auctions , and more than 200 companies participated in the auctions.And these indicators constantly grow. For new participants who want to take part in BCM auctions for the first time, the UEEX exchange offers free training, as well as detailed consultations of our best specialists.Sign up for o the regular e-mail and the official Facebook page of the exchange and stay up to date with all the news! Also at your service is a convenient Telegram-bot of the Ukrainian Energy Exchange - set up a subscription according to interests, participate in auctions and win!