The regulator has kept the current price caps in the electricity market for another six months

The National Energy and Utilities Regulatory Commission (NEURC) has left price caps in the electricity market at the current level for another six months, ExPro reports.

The relevant resolution adopted at the regulator’s meeting will come into force on May 31.

Thus, the maximum price caps on the day-ahead market (DAM) and the intraday market (IDM) are as follows:

• from 00:00 to 07:00, from 11:00 to 17:00 – UAH 5.6 thousand/MWh
• from 07.00 to 11.00, from 23.00 to 24. 00 – 6.9 thousand UAH/MWh;
• from 17.00 to 23.00 – 9 thousand UAH/MWh.

The minimum price ceiling is UAH 10/MWh.

In the balancing market, the maximum price caps are as follows:

• from 00.00 to 07.00 – 6.6 thousand UAH/MWh;
• from 07.00 to 17.00, from 23.00 to 24.00 – 8.25 thousand UAH/MWh
• from 17.00 to 23.00 – 10 thousand UAH/MWh.

The minimum price ceiling is UAH 0.01/MWh.

At the same time, Yuriy Vlasenko, the Head of the NEURC, suggested that the Energy Market Department should start the procedure of revising the price caps in the near future to respond promptly to the situation in the country, including those related to the war.

As a reminder, electricity prices in Europe fell significantly in April this year. In particular, the European electricity market was significantly affected by the fall in gas prices during this period. While at the beginning of the month the Dutch TTF futures price (according to ICE) was €42.65/MWh, at the end of the month (April 30) it was €32.3/MWh.