Ukraine and XMtrade®/PXS launched the first day-ahead electricity auction
The process of liberalization of the electricity market in Ukraine marked another historical milestone. The very first day-ahead auction of electricity proved to be successful. The promising start of trading is the result of cooperation with sféra, a.s. We developed XMtrade®/PXS information system specifically for Ukrainian market operator. Since the last year, our company’s experts have been intensively working on the implementation of the trading platform.
Ukraine's day ahead electricity market passed an important test. On June 30, 2019 took place the very first day-ahead market auction of electricity. Altogether 192 auction participants submitted their bids.
„The biggest challenge for us was to launch trading in a inconsistently prepared environment,” explained Libor Láznička, Director of Development Department at sféra, a.s. „The market operator was given the licence just two weeks before the launch. He had to conclude contracts with all market participant in a very short time. The market rules have been approved by the regulatory office at the very last moment - just six days before the first auction was scheduled. Moreover, the maximum prices introduced by the regulator were set unconventionally for day and night zone separately. The system of TSO did not set up functional interface for exchange of data. Despite the ever changing environment I am proud to say that in cooperation with market operator, the day-ahead and intra-day electricity market was successfully brought to life.”
The results of first auction
In the main United energy system of Ukraine were sold almost 151 000 MWh of electricity. Furthermore, in an area of Burshtyn Island more than 9 400 MWh of electricity were sold. For comparison, the traded volume of electricity in Ukraine was more than 15-times bigger than in Slovakia on the same day. The day-ahead market in Slovakia has overall 57 registered participants.
The day-ahead market proves to be transparent method of electricity trading. One of its crucial results is spot price. In the main district of Ukraine the auction generated an average price 53,62 EUR/MWh. In the second zone of Burshtyn Island the megawatt-hour of electricity was sold in average for 59,74 euros.
The contract for the delivery of XMtrade®/PXS information system was signed between ENERGORYNOK and sféra, a.s., on October 10, 2018. The contract includes system operation and 24x7 technical support during three years period. sféra, a.s., has been successfully operating similar system for eleven years in company OKTE, a.s., which operates short-term electricity market in Slovakia.
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