On June 5, the Government adopted a Resolution "On Approval of the Procedure for Electronic Auctions for the Sale of Electric Power under Bilateral Contracts and the Procedure for Selection of Auction Organizers Authorized to Organize and Conduct Electronic Auctions for the Sale of Electric Power under Bilateral Contracts", according to which the Ukrainian Energy Exchange was selected as the organizer of auctions for the sale of state generation electricity.

Currently, the trading platform of the Ukrainian Energy Exchange is the only one in Ukraine where a wide range of energy resources (natural gas, oil products, liquefied gas, coal, etc.) are traded on a regular basis. Due to the introduction of the wholesale electricity market on July 1, 2019, electricity is added to the list of commodities traded on the Exchange.

The Minister of Energy of Ukraine Ihor Nasalyk, commenting on the election of the Ukrainian Energy Exchange as the organizer of the auctions, said: "We have chosen one representative, now possible, who has already traded in gas and has the appropriate software for the implementation of bilateral contracts and auctions with a limited price".

In addition to state generation, private power generation companies may be the initiators of trading on a voluntary basis. The Ukrainian Energy Exchange invites all market participants to undergo free training in the electronic trading system for the smooth launch of the market from July 1.

"Sale of electricity through the exchange is a global practice. We have many years of experience, the necessary software and advanced technologies to conduct such trading. I am confident that the Ukrainian Energy Exchange will become an effective mechanism of electricity trading not only for state producers, but also can become a centralized platform for the entire market of bilateral contracts. The next step will be to set up trade in medium- and long-term commodity derivatives," said Oleksandr Kovalenko, CEO of the Ukrainian Energy Exchange.