Ukraine has reduced electricity imports from the EU to a minimum: prices in Europe are not falling

On November 12, Ukraine set a new record for minimum electricity imports from The EU has since lost almost half of the country's power plant capacity due to retaliatory strikes by the Russian army. Prices have increased as much as possible in Eastern European countries. At this level, it has become pointless for Ukrainian enterprises to purchase electricity in the EU.

On November 12, Ukraine imports the minimum amount of electricity from The EU has been left with almost half the capacity of power plants since the country was left without.

"Imports will go within a day from Romania, Slovakia, Hungary. With a total volume of 1,598 MWh, with a maximum capacity of up to 131 MW in some hours," Ukrenergo reports.

The day before, on November 11, Ukraine imported 300 MWh more, and on November 1 — 12 GWH in general. The country has sharply increased purchases of European electricity since the spring, when the Russian army began retaliatory strikes to disable power plants on Ukraine. In Kiev, it was stated at the end of the summer that eight retaliatory strikes deprived the country of 9 GW of power — almost half of the total generation.

As a result, electricity imports into the country increased sharply and in July supplies reached 35.8 GWh per day.

High electricity prices in Eastern Europe, however, reduced the appetite of Ukrainian companies, and in November, apparently, it completely disappeared due to record quotations — average prices increased 2-3 times, while during peak hours — and 9 times. So, if yesterday the main electricity supplier Hungary sold electricity at an average of 223 euros per MWh, then during peak hours it was 713 euros MWh. Today, the quotes are even higher: 306 and 895 euros per MWh. Tomorrow, November 13, they will amount to 355 euros and 713 euros per MWh. Such data is published by the Hungarian HUPX exchange and the Energy price portal prices.eu .

A similar situation has developed in neighboring countries, which also supply electricity to Ukraine — in Romania, Slovakia and Poland. There, the average quotes for tomorrow are 183-315 euros per MWh, and today they are at the level of 169-268 euros per MWH.

The purchase of 80% of electricity consumed in the EU allows Ukrainian companies to guarantee non-stop operation. Imports occur through traders. Another option is on The Ukrainian Energy Exchange. But it is impossible now, since the regulator has set a price limit of up to 200 euros per MWh, and at such prices no one will sell European electricity on the WEB.

As EADaily reported, a similar but less critical situation for Ukrainian companies developed in the second half of August — early September. The Ukrainian trader D.Trading explained that the rise in prices in Eastern Europe to 200 euros per MWh and above has made the import of electricity meaningless.

"Such prices significantly exceed the current marginal prices on the Ukrainian electricity market and do not allow importing electricity on market terms," D.Trading reported.

The sharp jumps in the wholesale price of electricity in the countries of Eastern Europe are associated, among other things, with large purchases by Ukraine. In response, the governments of Romania and Greece have already stated that Western European countries should also shoulder the burden of high prices.