16 September 2022, Friday, 11:42 423

Ukrenergo transfers UAH 6 billion to participants in electricity market

Editor: Roman Vaniyan

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The Ukrenergo national energy company has transferred UAH 6 billion to pay for the services of the state enterprise Guaranteed Buyer [Harantovanyi Pokupets] and electricity producers on the balancing market over the past two weeks.

This follows from a statement by the company, the Ukrainian News agency reports.

According to it, payments were made from the proceeds of auctions for access to interstate power transmission lines during the export of electricity to Europe, in particular, UAH 3 billion were paid to the Guaranteed Buyer for the service of increasing the share of renewable energy sources, and another UAH 3 billion to electricity producers on the balancing market.

"Previously, according to the law "On the electricity market," these revenues could be directed exclusively to the development and reconstruction of interstate networks. But in August, the Verkhovna Rada updated it, which allowed half of the funds from the sale of access to interstate crossings to be used to pay for the services of the Guaranteed Buyer and another 50% - to pay electricity producers on the balancing market," the message states.

Thus, until the end of 2022, Ukrenergo will transfer to these market participants 100% of the revenues received from the sale of access to interstate networks.

"At the same time, the main source of payments with the Guaranteed Buyer remains the electricity transmission tariff. Today, market participants owe Ukrenergo more than UAH 11.5 billion for paying for this service. At the same time, since the beginning of the war, the debt has doubled. If Ukrenergo had received these funds on time, we could settle with the Guaranteed Buyer much faster, Volodymyr Kudrytskyi, the board chairperson at Ukrenergo, is quoted in the message.

As the Ukrainian News agency earlier reported, the European Network of System Operators of Electricity Transmission (ENTSO-E, 42 system operators from 35 countries are members of the network) has increased the available capacity for electricity export from Ukraine to the European Union to 300 MW during peak hours of electricity consumption.

On June 30, Ukraine began exporting electricity to Europe.