Updated at the request of ENTSO-E

National energy company Ukrenergo will continuously submit and update the data in the ENTSO-E platform on the power system's load, capacity and balancing.

The respective agreement was signed by Ukrenergo Head Vsevolod Kovalchuk and Secretary-General of European Network of Transmission System Operators for Electricity (ENTSO-E) Laurent Schmitt.

Ukrenergo said that data exchange on the transparency platform is another important step forward in the cooperation between Ukrenergo and ENTSO-E, the European Network of Transmission System Operators.

"Data availability, in the long run, will have a significant impact on the new electricity market to be implemented in Ukraine from July 1, 2019, because the modern model of a competitive market is very sensitive to up-to-date data on consumption, wind and solar generation, imports, exports, etc," the company said.

Using the open data will enable traders to calculate the price more accurately, generation – to determine the best mode of operation for power units, and the system operator – to maintain a balance in the power system due to better forecasting of consumption and generation.

The Transparency platform provides continuous and free access to the key information on the European grid for all market participants and other stakeholders.

ENTSO-E, which was established in 2009, represents 43 electricity transmission system operators (TSOs) from 36 countries across Europe. It united six industry associations that existed at that time: ATSOI, BALTSO, ETSO, NORDEL, UCTE and UKTSOA.

Ukrenergo operates trunk and interstate transmission lines, as well as centralized dispatching of the country's integrated power grids. It is a state-owned enterprise, which was managed by Ukraine's Finance Ministry, but it will be reorganized into a private joint-stock company.