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ECO - Energy Club Outlook. Weekly report #1/2022 about Ukrainian energy sector

Gas Market

Ukraine continues to ship Russian gas to European Union consumers (total of 1037065 MWh per day [1]), but supplies may be suspended at the request of its European partners [2].

The situation on the domestic gas market remains stable, but with low trading activity. This has led to a widening of the quotation range: the price with delivery in May ranged from 93.2 to 98.0 €/MWh.

Gas imports from the EU are at record lows, with daily supplies from Poland and Hungary at 1,192 MWh. In this regard, CEGH and CZ VTP price fluctuations have no impact on the Ukrainian market.

Trading sessions for the month of June are expected to open in the next 10 days. It is possible that the price will be higher for the current price due to changes in the taxation of Ukraine's gas-producing sector. One such amendment will require gas producers to pay new rents after selling gas.

Electricity market

Since May 05, Ukraine resumed export of electric energy to Poland at the maximum level of 210 MW [3]. In addition to this direction, Ukraine is already ready to supply 600 MW of electricity to Moldova and Bulgaria since June 01.

Since the beginning of this week, the day-ahead market supply has halved to 87,000 MWh. The changes were proportional to all hours of the day. Despite this, the price remains in the range of 71 to 72 € / MWh. The vast majority of buyers are traders and sales companies.

All types of generation in Ukraine continue to operate as scheduled, with the exception of the 150 MWh Zaporizhzhya coal-fired power plant. This facility is located in the temporarily occupied territory and has been shut down due to lack of fuel.

[1] Including: 102335 MWh per day - for consumers in Slovakia, as well as 48530 MWh per day - for consumers in Moldova
[2] Ukraine ready to halt transit if Europe drops Russian gas - Head of Parliament's energy committee / Ukrinform
[3] ENTSO-E / Scheduled Commercial Exchanges UA - PL