Electricity prices in Ukraine increased substantially in June 2021 compared to May 2021 across various markets. The day-ahead market price rose 32.57% and volume traded increased 10.23%. Renewable energy generation increased to 7.96% of total generation. Electricity consumption declined slightly by 1.8% year-over-year. Household debt for utilities and electricity decreased by around 4-7% from the previous month.

1. MARKET
REVIEW
JUNE 2021
UKRAINE
RES
uare.com.ua

2. Contents
RES
01
02
03
Ukraine’s market at a glance:
electricity generation,
energy subsidies for HHs
Ukraine’s electricity trade:
prices, volumes and
trade offers
Selected EU’s markets:
Nord Pool, OMIE Spain and
Portugal, GME Italy,
OTE Czech Republic
Ukraine’s DAM:
1456,15 ₴/MWh (+32,57%),
2,4 mln MWh (+10,23%)
compared to May 2021
Ukraine’s generation:
share of RES - 7,96% (+0,66 p.p.
- to May) - 0,880 mln MWh
(NEC Ukrenergo); 1,182 mln MWh -
10,36% (the Ministry)
NordPool:
system price - 43,54 (-1,7%
- to May at 44,28 € avg)
OMIE Spain: 83,3 € (+24,1%)
GME Italy: 84,8 € (+21,3%)
OTE Czech Rep.: 75,1 € (+26,6%)
compared to May 2021

3. Ukraine’s market
June 2021
Page 2
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
2 000
2 200
2 400
2 600
2 800
3 000
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
UAH
/
MWh
Source: Market operator - OREE
DAM IES Ukraine: price for electricity
DAM IES June 2021 DAM IES June 2021
-100
100
300
500
700
900
1 100
1 300
1 500
1 700
1 900
2 100
2 300
2 500
2 700
2 900
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
UAH
/
MWh
Source: Market operator - OREE
IDM IES Ukraine: price for electricity
IDM IES June 2021 IDM IES May 2021
-100
100
300
500
700
900
1 100
1 300
1 500
1 700
1 900
2 100
1
2
3
4
6
7
8
9
11
12
13
14
16
17
18
19
21
22
23
24
26
27
28
29
UAH
/
MWh
Source: Market operator - OREE
IDM BEI Ukraine: price for electricity
IDM BEI June 2021 IDM BEI May 2021
0
200
400
600
800
1 000
1 200
1 400
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29
UAH
/
MWh
Days of June 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 1-6 hour June 2021
h 1 h 2 h 3 h 4 h 5 h 6
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
2 000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29
UAH
/
MWh
Days of June 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 7-12 hour June 2021
h 7 h 8 h 9 h 10 h 11 h 12
-300
-100
100
300
500
700
900
1 100
1 300
1 500
1 700
1 900
2 100
2 300
2 500
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
UAH
/
MWh
Source: Market operator - OREE
DAM BEI Ukraine: price for electricity
DAM BEI June 2021 DAM BEI June 2021

4. Ukraine’s market
June 2021
Page 3
700
900
1100
1300
1500
1700
1900
2100
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
UAH
/
MWh
Days of June 2021
Source: Market operator - OREE
DAM IES Ukraine: avg prices for offers of electricity
WAVG supply offers' price WAVG demand offers' price
0
500
1 000
1 500
2 000
2 500
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29
UAH
/
MWh
Days of June 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 13-18 hour June 2021
h 13 h 14 h 15 h 16 h 17 h 18
0
500
1 000
1 500
2 000
2 500
3 000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29
UAH
/
MWh
Days of June 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 19-24 hour June 2021
h 19 h 20 h 21 h 22 h 23 h 24
1400
1500
1600
1700
1800
1900
2000
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
UAH
/
MWh
Days of June 2021
Source: Market operator - OREE
DAM BEI Ukraine: avg prices for offers of electricity
WAVG supply offers' price WAVG demand offers' price
0
0,5
1
1,5
2
2,5
3
0
1
2
3
4
5
6
7
8
9
10
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
MWh
mln
MWh
mln
Days of June 2021
Source: Market operator - OREE
DAM IES Ukraine: daily demand & supply offers
Supply Demand (right axis)
0,0
0,5
1,0
1,5
2,0
2,5
3,0
3,5
4,0
4,5
5,0
0
1
2
3
4
5
6
7
8
9
10
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
bln
UAH
bln
UAH
Days of June 2021
Source: Market operator - OREE
DAM IES Ukraine: daily demand & supply offers
Supply value Demand value (right axis)

5. Ukraine’s market
June 2021
Page 4
DAM1)
price in 6-2021 increased to 1456,15 UAH
by 32,57% compared to the 5-2021, and by 15%
growth through the year from 1263,03 UAH.
In 6-2021 DAM IES2)
price increased by 39,9% to
1425,14 UAH - to the 5-2021 and by 16,7%
increase to 1221,23 UAH through the year.
DAM BEI in 6-2021 increased by 3,73% to 1705,08
UAH and by 5% - to 6-2020 from 1621,24 UAH.
IDM price increased by 40,36% to 1354,96 UAH in
6-2021 - to the 5-2021 and by 13,94% growth from
1189,17 UAH through the year.
IDM IES price increased by 40,46% to 1352,96 UAH
in 6-2021 - to the 5-2021 and by 13,89% from
1187,96 through the year.
IDM BEI price increased by 22,97% to 1806,48 UAH
- to the 5-2021 and by 37,69% from 1311,94 UAH
through the year.
DAM electricity trade volume3)
on the OREE4)
gained 10,23% rise in 6-2021 from 2,2 to 2,4 mln
MWh compared to 5-2021 and raised by 11,72%
through the year.
IDM trade volume on the OREE dropped by
30,97% from 678 thou in 5-2021 to 468 thou MWh
in 6-2021, however, the IDM trade raised by
21,56% from 385 thou MWh in 6-2020.
1) DAM - Day-Ahead Electricity Market, IDM - Intra-Day Electricity Market
2) IES - Ukraine’s Integrated Energy System, BEI - Burshtyn Energy Island
3) Trade volume - sales of electricity in MWh
4) OREE - Market operator (the Government owned company)
The volume of electricity sales offers on OREE’s
DAM IES market in 6-2021 was x3,71 larger than
volume of buy offers and reached 186,9 mln MWh
(-33,25% to 5-2021 with 280 mln MWh). Volume of
buy offers stood at 50,3 mln MWh (+15,1% to
5-2021 with 43,7 mln MWh).
DAM BEI’s volume of sales offers in 6-2021 was 3,1
mln MWh (-18,4% to 5-2021 with 3,8 mln MWh),
and the demand volume of offers stood at 292,4
thou MWh (-5,8% to 5-2021 with 310,4 thou
MWh).
Share of RES generation reached 7,96% (+0,66 p.p.
to 5-2021 with 828,2 thou MWh) - 880,9 thou MWh
(NEC Ukrenergo)1)
. The RES’s share reported by the
Ministry reached 10,36% (+0,23 p.p. to 5-2021
with 1172 thou MWh) - 1182 thou MWh2)
.
Overall generation in 6-2021 reached 11,07 mln
MWh (-2% to 5-2021 with 11,3 mln MWh) reported
by NEC Ukrenergo and 11,43)
(-2,6% to 5-2021 with
11,7 mln MWh) reported by the Ministry.
Utilization of electricity in 6-2021 stood at 10,6
mln MWh (-1,8% to 5-2021 with 10,8) reported by
NEC Ukrenergo and 11,1 (-1,8% to 5-2021 with
11,3 mln MWh brutto) reported by the Ministry.
1) NEC Ukrenergo:“Daily figure of generation and utilization of electricity”
2) The Ministry:“Information on electricity industry results as of June 2021 - fact data”
3) In May 2021 generation dropped by 7,87% from 12,7 in April to 11,7 in May.
0
5
10
15
20
25
30
35
40
45
50
0
50
100
150
200
250
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
mln
UAH
mln
UAH
Days of June 2021
Source: Market operator - OREE
DAM BEI Ukraine: daily demand & supply offers
Supply value Demand value (right axis)
0
5
10
15
20
25
1
21
41
61
81
101
121
141
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
thousand
MWh
thousand
MWh
Days of June 2021
Source: Market operator - OREE
DAM BEI Ukraine: daily demand & supply offers
Supply Demand (right axis)

6. Ukraine’s market
June 2021
Page 5
0%
2%
4%
6%
8%
10%
12%
14%
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
Source: TSO - NEC Ukrenergo
RES's share in genera�on of electricity in June 2021
(HPP's pump less)
RES's share in May 2021, % RES's share in June 2021, %
0%
20%
40%
60%
80%
100%
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
Source: TSO - NEC Ukrenergo
Overall genera�on structure in June 2021
(HPP's pump less)
Nuclear Fossil fuel cogenera�on RES TPP Large hydro
6205654
413858
880876
2296136
1273847
6205000
284000
1182000
2316000
1286000
Nuclear Fossil fuel
cogenera�on
RES TPP Large hydro
Genera�on in June 2021, MWh
(HPP's pump less)
TSO - NEC Ukrenergo The Ministry
300
320
340
360
380
400
420
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
thousand
MWh
a
day
Source: TSO - NEC Ukrenergo
U�liza�on of electricity in June 2021
In May 2021 In April квітні 2021 In June 2021
10
12
14
16
18
20
01
02
03
05
06
08
09
10
12
13
15
16
18
19
20
22
23
25
26
27
29
30
thousand
MWh
an
hour
Source: TSO - NEC Ukrenergo
U�liza�on of electricity in June 2021
In May 2021 In June 2021

7. Ukraine’s market
June 2021
Page 6
In Ukraine as of 1 June 2021, HH’s debt for utilities
dropped by 6,95% from 74 as of 1 May 2021 to
68,9 bln UAH. HH’s debt for electricity decreased
by 4,4% from 7,59 to 7,3 bln UAH1)
.
With service in 6-2021 The SOE “Guaranteed
buyer” signed contracts for electricity sales on
UEEX in volume of 447,8 (x1,11 to 5-2021 with 403
thou MWh) valued at 552,9 mln UAH (x0,99 to
5-2021), VAT less. Weighted avergae sales price
stood at 1234,7 (x0,89 to 05-2021 with 1386 UAH).
However, the realized volume in 6-2021was lawer
than contracted and stood at 437 (х1,19 to
5-2021with 367 thou MWh)2)
.
1) State Statistics Service of Ukraine - SSSU
2) Ukrainian Energy Exchange - UEEX
30,2
28,7
6,1 5,4
1,1
7,8
28,6
25,4
6,2 5,4
1,1
7,6
26,0
22,7
6,3 5,4
1,2
7,3
Gas Heat & hot water Water &
drainage
Estate
management
Waste Electricity
Source: State Statistics Service of Ukraine
Households' debt for u�li�es as of June 1, 2021 in bln UAH
As of Apr 1. 2021 As of May 1, 2021 As of June 1, 2021
0,0
0,1
0,2
0,3
0,4
0,5
0,6
0,7
0,8
Vinnytsya
Volyn
Dnipropetrovsk
Donetsk
Zhytomyr
Zakarpa�ya
Zaporizhzhya
Ivano-Frankivsk
Kyiv
Kirovohrad
Luhansk
Lviv
Mykolayiv
Odesa
Poltava
Rivne
Sumy
Ternopil
Kharkiv
Kherson
Khmelnytskiy
Cherkasy
Chernivtsi
Chernihiv
City
of
Kyiv
bln
UAH
Source: State Statistics Service of Ukraine
Households' debt for u�li�es by regions as of June 1
5,0
7,8
5,3
6,8
4,0
0,7
0
1
2
3
4
5
6
7
8
9
Jan Feb Mar Apr May Jun
bln
UAH
Source: State Statistics Service of Ukraine
Subsidy for households paid for u�li�es and fuel purchase
78,0
71,0 69,4
54,0
38,3
23,0
1,8
90,0
22,5
1
11
21
31
41
51
61
71
81
91
101
8-11 8-18 9-17 10-16 11-15 12-14 13-18 15-19 20-24
thousand
MWh
Hours of electricity load
(load �me blocks 8-12 та 9-11 included in 8-18)
Source: UEEX
Sales volume of "Guaranteed buyer" with service in June
2021
1
199,4
1
300,5
1
230,1
1
221,9
1
198,3
1
199,4
1
196,1
1
200,0
1
434,3
1 000
1 050
1 100
1 150
1 200
1 250
1 300
1 350
1 400
1 450
1 500
8-11 8-18 9-17 10-16 11-15 12-14 13-18 15-19 20-24
UAH
/
MWh
Hours of electricity load
(load �me blocks 8-12 та 9-11 included in 8-18)
Source: UEEX
Prices of sales by "Guaranteed buyer" with service in
June 2021

8. Europe’s NordPool
June 2021
Page 7
-20
0
20
40
60
80
100
120
140
1
2
3
4
5
6
7
8
10
11
12
13
14
15
16
17
19
20
21
22
23
24
25
26
28
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in Sweden, June 2021
(an hour)
SE1 SE2 SE3 SE4
-10
10
30
50
70
90
110
130
150
170
190
1
2
3
4
5
6
7
8
9
10
11
12
14
15
16
17
18
19
20
21
22
23
24
25
27
28
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in Finland, June 2021
(an hour)
-60
-45
-30
-15
0
15
30
45
60
75
90
105
120
135
150
1
2
3
4
5
6
7
8
9
10
11
12
14
15
16
17
18
19
20
21
22
23
24
25
27
28
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in Germany & Luxembourg, June 2021
(an hour)
DE-LU
-75
-60
-45
-30
-15
0
15
30
45
60
75
90
105
120
135
150
165
1
2
3
4
5
6
7
8
9
10
11
12
14
15
16
17
18
19
20
21
22
23
24
25
27
28
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in France, June 2021
(an hour)
-75
-60
-45
-30
-15
0
15
30
45
60
75
90
105
120
135
150
1
2
3
4
5
6
7
8
9
10
11
12
14
15
16
17
18
19
20
21
22
23
24
25
27
28
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in Netherlands, June 2021
(an hour)
-50
0
50
100
150
1
2
3
5
6
7
9
10
11
13
14
15
17
18
19
21
22
23
25
26
27
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in Denmark, June 2021
(an hour)
DK1 DK2

9. Europe’s NordPool
June 2021
Page 8
PV generation in Europe increased in 1H2021 in
almost all countries compared to 1H2020: in
Germany - by 0,4% with historical record in June
of 2021, France - by 8,4%, Italy - by 0,4%, Iberian
peninsula - by 28%.
Wind generation in 1H2021 had contrary trends
among countries. On Iberian peninsula genera-
tion increased by 22%, in Italy - by 1,6%, in Germa-
ny wind generation decreased by 20% and in
France - by 6%.
Gradual economic activity growth in the EU
supported an increase of prices for CO2
and gas,
and thus, for electricity, the level of which surged
to a historic maximum and remain for a notable
number of weeks above 100 EUR per MWh.
The demand for electricity increased in 1H 2021 in
France by 8,1%, Italy by 7,9%.
Among European markets electricity price in 1H
2021 remained on average higher than 50 EUR per
MWh with slightly exceptional case of Scandina-
vian countries where price for electricity stood at
42,03 EUR per MWh.
In June 2021 price for electricity in Scandinavian
countries remained stable compared to May 2021,
however, in Italy, Spain and Czech Rep. prices
surged by 20%.
Source: https://aleasoft.com, Nord Pool.
Photo: Karsten Würth
-15
0
15
30
45
60
75
90
105
120
135
150
165
180
1
2
3
4
5
6
7
8
9
10
11
12
14
15
16
17
18
19
20
21
22
23
24
25
27
28
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in Bal�cs, June 2021
(an hour)
EE LV LT
-80
-65
-50
-35
-20
-5
10
25
40
55
70
85
100
115
130
145
1
2
3
4
5
6
7
8
9
10
11
12
14
15
16
17
18
19
20
21
22
23
24
25
27
28
29
30
EUR
/
MWh
Days of June
Source: Nord Pool
Prices for electricity in Austria and Belgium, June 2021
(an hour)
BE AT

10. EU’s OMIE | GME | OTE
June 2021
Page 9
Photo: wallpapercave.com
-10
10
30
50
70
90
110
130
150
01
02
03
04
05
07
08
09
10
11
13
14
15
16
17
19
20
21
22
23
25
26
27
28
30
EUR
/
MWh
Days of June
Source: GME
DAM Italy in June 2021: price for electricity
DAM Italy in May 2021 DAM Italy in June 2021
-50
-30
-10
10
30
50
70
90
110
130
150
1
2
3
4
6
7
8
10
11
12
13
15
16
17
19
20
21
22
24
25
26
28
29
30
EUR
/
MWh
Days of June
Source: OTE
DAM Czech Republic in June 2021: price for electricity
DAM Czech Rep. in May 2021 DAM Czech Rep, in June 2021
-10
10
30
50
70
90
110
130
1
2
3
4
5
7
8
9
10
11
13
14
15
16
17
19
20
21
22
23
25
26
27
28
30
EUR
/
MWh
Days of June
Source: OMIE
DAM Spain in June 2021: price for electricity
DAM Spain in May 2021 DAM Spain in June 2021
-10
10
30
50
70
90
110
130
1
2
3
4
6
7
8
9
11
12
13
14
16
17
18
19
21
22
23
24
26
27
28
29
EUR
/
MWh
Days of June
Source: OMIE
DAM Portugal in June 2021: price for electricity
DAM Portugal in May 2021 DAM Portugal in June 2021

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