On October 19, 2023, the Director of Energy and Infrastructure Programmes of Razumkov Centre V. Omelchenko took part in the NEURC meeting dedicated to price caps on the electricity market.
In his report, he recommended the NEURC members to take into account the following factors, when making a decision on this issue:
- The expected capacity deficit during peak consumption hours on certain days of the heating season may reach 2–3 GW, and to minimize it, it is necessary to create favourable conditions for electricity imports from Poland, Slovakia, Hungary, Romania and Moldova.
- A significant increase in electricity prices on the markets of EU countries is expected in the fall and winter of 2023–2034 due to the seasonal decrease in solar generation, increased demand, and higher natural gas prices. Hence, the price caps should exceed the price of electricity imports and cover the cost of its delivery.
- It is high time to implement the European Commission Regulation No. 2015/1222 regarding electricity price cap setting. This obligation was assumed by Ukraine when joining the Energy Community Treaty.
The meeting brought together NEURC members, people's deputies of Ukraine, heads of energy and industrial companies, and representatives of public organizations.
The event was organized by NEURC and gathered 46 participants.
