Methods to calculate the forecast wholesale price of electricity, taking into account the API2 index, is in effect, but the price of coal calculated using this formula now is not close to the quotations in Rotterdam, Head of the National Commission for Energy, Housing and Utilities Services Regulation (NCER) Dmytro Vovk has told Interfax-Ukraine.

"The methods are in effect. It takes into account average API2 for 12 months. Many politicians do not understand its essence or deliberately manipulate declaring that the price of coal used to calculate the wholesale electricity price is equal to the current price in Rotterdam – around UAH 3,000. This is untrue. The price is UAH 1,730 now," he said.

Vovk said that current high API2 indexes will influence the price in Ukraine, but the effect from it would be smoothed.

"Eventually they [high prices in Rotterdam] will be taken into account, but at present we have UAH 1,730. From the point of view of consumers this protects them. The methods were designed to protect consumers from possible sharp fluctuations," he said.

The commission head said that now the price of coal applies to purchase of coal at private and public coalmines. In 2016, state-run coalmines were able to sell coal at the price lower than the price calculated using the above-mentioned methods. The commission will present the details on the issue later.

"In 2016 this period could be short, as the Energy and Coal Industry Ministry did not react to the introduction of the new methods at once. We will be able to comment on the issue after a thorough analysis," Vovk said.

As reported, the NCER has applied the methods to calculate the forecast wholesale price of electricity, taking into account the API2 index, since April 2016.