Ukrainian Energy Exchange introduces electronic auctions for the purchase and sale of guarantees of origin

Ukrainian Energy Exchange LLC (UEEX) announces the opening of a new section for organizing and conducting electronic auctions for the purchase and sale of guarantees of origin of electricity produced from renewable sources (GOE). This is an important step in the development of the green energy market in Ukraine, which contributes to the implementation of the EU Directive on the promotion of renewable energy sources (RED II). In Ukraine, this instrument was implemented in accordance with Law No. 3220 “On Amendments to Certain Laws of Ukraine on the Restoration and Green Transformation of the Energy System of Ukraine” and CMU Resolution No. 227 of February 27, 2024.

The auctions will be conducted in the Exchange Electronic Trading System (ETS) software product in the Electric Power version in the form of a one-sided counter auction.

Registered users of the register of guarantees of origin who have received the status of seller and/or buyer after registering on the UEEX can participate in the auction. Initiators can place buy or sell orders by attaching draft contracts to their positions.

The auction may include items of guarantees of origin with the definition of the type of renewable energy source used in the process of electricity generation, the period of electricity generation, and the period of commissioning of the generating facility. Auctions can be held both to raise and lower the price.

Details on the rules, auction calendars and results will be published on the website ueex.com.ua.

“The introduction of trade in guarantees of origin is an important element in supporting the development of the renewable energy market in Ukraine. This allows market participants to confirm the origin of electricity during its production and consumption. The exchange will provide transparency, market-based pricing and a convenient service for the purchase and sale of guarantees of origin for market participants. The new tool will be especially useful for companies that prepare ESG reporting and seek to reduce their environmental footprint, as well as for electricity suppliers that will offer “green” products to retail customers,” commented Oleksandr Kovalenko, CEO of UEEX.

For more information, please call +38 (044) 35-35-735 or send an e-mail to [email protected]