May 19 – 25

  • The Cabinet of Ministers of Ukraine supported a draft law to abolish 63 duplicative and irrelevant regulations applicable to business; 8 of them relate to energy, alternative fuels, construction and explosives.
  • Commercial electricity exports increased by 1.7 times to 34.1 GWh over the week, while imports decreased by 1.8 times to 18.9 GWh.
  • The monthly Base BCM (bilateral contracts market) index for June was formed at 4,100.0 UAH /MWh (+5.5% compared to the index in May).
  • Given the downward trend in electricity consumption, the average hourly price of electricity on the day–ahead market (DAM Base index) decreased to 3,797.1 UAH/MWh (–7.8%) over the week; the total volume of electricity sold on the Ukrainian DAM decreased to 527.5 GWh (–3.4%).
  • The European Union and the Energy Community Secretariat in a formal letter asked the Ukrainian government to clarify the legal status of the competition for the NEURC members held in 2023, the results of which have not been implemented. They warn of risks to the legitimacy of the NEURC’s decisions and call on the government to clearly define further steps to select new members of the Regulator.
  • The NEURC proposes to transfer the submission of all reporting forms of electricity market participants from e–mail to a special automated reporting module. An initiative should simplify the circulation of reports and improve the efficiency and quality of market monitoring.
  • Physical imports of gas from Hungary during the reporting week (May 18–24) amounted to 64.3 mcm (+2.2% compared to the previous week), from Poland – to 41.5 mcm (+2.1%), Moldova – 1.2 mcm (–45.7%) and Slovakia – 19.1 mcm (7.5 times more than the previous week).
  • As of May 24, 1.73 bcm of gas was accumulated in Ukrainian underground storages, or 5.7% of the total working volume (excluding 4.662 bcm of “long–term storage” gas). During the reporting week (May 19–24), 242.5 mcm of gas were injected into underground storages (data for May 18 are not available).
  • The Cabinet ofMinisters has updated the List of Mineral Resources of National Importance and for the first time included natural hydrogen and tight gas in the respective category.
  • The United Nations Development Programme (UNDP) in Ukraine, in cooperation with the Ministry of Energy of Ukraine, transferred three high–voltage autotransformers to NPC Ukrenergo, the delivery being funded by the governments of Japan and Sweden.
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