NEURC continues market stabilisation despite facing pressure from the court
The National Commission for State Regulation on Energy and Communal Services (NEURC) once again changed the electricity market regulations. This time, NEURC revoked three of their previous decisions on the restrictive measures in the electricity market. Revocation of two measures was mandated by the Kyiv Administrative Court.
“Market participants know that the District Administrative Court has taken over to regulate our situation. However, it has made a mess, of course, so today we are making appropriate decisions. “, – said NEURC chairman Valery Tarasyuk.
To comply with the Court’s decision, NEURC retrieved restrictions but immediately introduced a new measure to continue market stabilisation. The regulator announced that until February 28, the minimum price of electricity on the intraday market (IDM) be at the level of 110% of the electricity price at the day-ahead market (DAM). Additionally, NEURC adjusted the algorithm of payment for negative imbalances only at the level of 102% of the marginal price of DAM. The regulator also extended the minimum marginal price for DAM.
“Today we are making a second decision. The cancellation of previous decisions is a destabilization of the market situation as one of the elements of a hybrid war. Everyone understands how this cancellation will affect you. “The reversal of our decision will allow the market to speculate in such conditions. Therefore, new measures of the National Commission for Regulation of Economic Competition will be new today and always,” said Olga Babiy, a member of the NEURC commission.