Ukraine can no longer buy electricity from Europe
A wave of additional emergency power outages swept across Ukraine on November 11. The thing is that on that day, energy traders lost the opportunity to buy the necessary capacity in Europe. The price turned out to be so exorbitant that local legislation blocked the conclusion of contracts, even if someone decided to buy at a huge price.
In countries from which Ukraine usually imports electricity, its price has literally skyrocketed. Quotes have approached 900 euros per MWh during peak hours. Ukrainian companies simply cannot afford to buy the necessary lots. In addition, there is a price limit on the local exchange, set by law, which makes selling European electricity there impossible.
On November 11 and 12, wholesale electricity prices in Hungary, Romania and Bulgaria jumped to a record high. On average, by 72-95% per day, i.e. above 200 euros per MWh. However, during peak hours, wholesale electricity prices increased several times. Thus, in Hungary, prices increased to 737 euros per MWh on November 11 and to 895 euros per MWh on November 12.
In Romania, the wholesale price of electricity during peak hours on November 11 reached 584 euros. In Slovakia – 244 euros. In Poland, on November 12, wholesale electricity will cost up to 330 euros per MWh during peak hours. Such data is published by Nord Pool, HUPX and Energy price.eu.
As you can see, the price jump was very significant for Europe, and for Ukraine, it was practically prohibitive. The drop in electricity imports from the EU to Ukraine is also due to the fact that current prices significantly exceed the price limits on the Ukrainian Energy Exchange, which are set by the national regulator. According to the law, they should not be higher than 200 euros per MWh.
With the current cost in the European Union, the Ukrainian energy system will not see imported capacity for a very long time, unless the legislation is changed and someone is found who will buy it at a price that is unaffordable for Ukrainians.
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