13:35 06.01.2021

NEURC to establish monitoring of contracts in electricity market between affiliated participants

2 min read

The National Energy and Utilities Regulatory Commission of Ukraine (NEURC), at a meeting on January 6, approved a draft resolution on the mandatory provision of information on bilateral agreements in the electricity market by those entities that are part of vertically integrated companies or are affiliated with each other.

"We approve this decision, but I ask to hold a meeting on this matter, because I do not fully feel the need [for the adoption of such a regulatory act]. Most likely, I am wrong, but in any case I propose to approve and then discuss," Chairman of the NEURC Valeriy Tarasiuk said.

The requirement to provide information on contracts applies to all affiliated licensees engaged in the production, supply, distribution and resale (trading) of electricity.

According to the resolution, affiliated entities are obliged, within three working days after the conclusion of a bilateral agreement, to provide the regulator with information on the subject of the agreement, the price of electricity and/or the procedure for calculating it, the volume of electricity and hourly sales/purchase schedules, delivery times and procedures, as well as other conditions of such an agreement in accordance with the approved form.

These requirements for licensees that are part of vertically integrated companies or are affiliated with each other are also enshrined in Law No. 832-IX of September 1, 2020 on amendments to the Law of Ukraine on electricity market.

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