Ukraine ranked third in terms of electricity price on the DAM among 27 European countries in 2024

The price index of electricity for the BASE period of the day-ahead market (DAM) in Ukraine for 2024 amounted to 4522.87 UAH/MWh (€103 MWh) calculated according to Central European Time (CET). This is stated in the analytical report of JSC Market Operator on the results of the spot market last year.

In 2024, Ukraine ranked third in terms of electricity price on the DAM among 27 European countries. Italy ranked first in terms of the average annual BASE index on the DAM among European spot markets – 4759.12 UAH/MWh (€109/MWh), and Romania ranked second – 4528.97 UAH/MWh (€104/MWh).

The lowest similar indicator in 2024 was recorded in Sweden – 1449.19 UAH/MWh (€34/MWh).

The weighted average purchase and sale price of electricity on the DAM in Ukraine amounted to 4878.06 UAH/MWh.

According to the report, trading volumes on the spot electricity market last year amounted to 27.5 TWh, which is 22.6% more than traded on the DAM and IDM (intraday market) a year earlier.

Market Operator notes that both the DAM and IDM were mostly in surplus last year, with supply exceeding demand by 1.3 times and 2 times, respectively.

In 2024, the cost of electricity sold on the DAM amounted to UAH 146.861 billion (including VAT), and on the IDM – UAH 14.286 billion (including VAT).

As GMK Center reported earlier, according to the industry association Eurelectric, in 2024, the average wholesale price on the EU day-ahead market fell to €82/MWh compared to €97/MWh in 2023. According to the association, by the fourth quarter, this average was even lower (€76/MWh). However, in October-December, Europe saw an increase in electricity prices due to high winter demand, rising gas prices, a shortage of solar energy and windless periods.