JSC Market Operator has developed a draft amendment to the rules of the day-ahead market (DAM) and the intraday market (IDM) and changes to the rules of the electric energy market regarding the synchronization of its work in time with European spot markets.

"According to the changes proposed by the market operator, the "gate closing" time on the DAM, the "start of trading" time on the IDM and the execution of related processes are postponed one hour later," the company said on Friday.

The Market Operator explained the need to make changes by saying that according to the rules of the DAM and IDM, the Market Operator organizes and conducts daily trading on the DAM and IDM according to Kyiv time (Eastern European time, EET). At the same time, trading in these market segments in Europe is carried out according to Central European Time CET, which is one hour behind EET.

"In accordance with clause 1.14.3 of the Market Rules on the DAM and IDM, the Market Operator will publish the relevant proposals and, by March 1, 2024, expects comments and suggestions from market participants and other stakeholders on the proposed changes to postpone the closing time of the gates on the DAM and the start of trading on the IDM," the company said.

The Ukrainian and European spot electricity markets in operating hours are synchronized in accordance with the action plan to fulfill Ukraine's obligations under the Treaty establishing the Energy Community.