The Secretariat commends NEURC’s decision to increase the price caps in the Ukrainian wholesale electricity market 

On 9 November 2023, the National Energy and Utilities Regulatory Commission of Ukraine (NEURC) made the decision to raise the price caps further for the day-ahead and intraday segments of the electricity market.

The absolute price caps have been raised during the morning and evening peak load hours, reaching a maximum value of EUR 191 per MWh, applicable from 17:00 to 23:00. The average maximum price cap increased by 7.4%. These changes will take effect on 30 November 2023. They do not affect the price limits design approach implemented by NEURC on 27 June 2023, which was evaluated by the Secretariat as part of the Ukraine Energy Market Observatory.

The new decision is a positive step towards further electricity market liberalization and will incentivize imports and hence increase the security of supply in Ukraine during winter.