Ukraine electricity market: generation, prices, trends in light of European electricity markets - July 2021.

1. MARKET
REVIEW
JULY 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:
1474,49 ₴/MWh (+1,26%),
2,6 mln MWh (+6,3%)
compared to June 2021
Ukraine’s generation:
share of RES - 8,8% (+0,84 p.p.
- to June) - 1,070 mln MWh
(NEC Ukrenergo); 1,428 mln MWh -
11,4% (the Ministry)
NordPool:
system price - 54 € MWh (+24%
- to June at 43,5 € avg)
OMIE Spain: 92,4 € (+11%)
GME Italy: 102,66 € (+21%)
OTE Czech Rep.: 85,07 € (+13,4%)
compared to June 2021

3. Ukraine’s market
July 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
31
UAH
/
MWh
Source: Market operator - OREE
DAM IES Ukraine: price for electricity
DAM IES June 2021 DAM IES July 2021
-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
31
UAH
/
MWh
Source: Market operator - OREE
DAM BEI Ukraine: price for electricity
DAM BEI June 2021 DAM BEI July 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
31
UAH
/
MWh
Source: Market operator - OREE
IDM IES Ukraine: price for electricity
IDM IES June 2021 IDM IES July 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
10
11
12
13
15
16
17
19
20
21
22
24
25
26
28
29
30
UAH
/
MWh
Source: Market operator - OREE
IDM BEI Ukraine: price for electricity
IDM BEI June 2021 IDM BEI July 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 31
UAH
/
MWh
Days of July 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 1-6 hour July 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 31
UAH
/
MWh
Days of July 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 7-12 hour July 2021
h 7 h 8 h 9 h 10 h 11 h 12

4. Ukraine’s market
July 2021
Page 3
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 31
UAH
/
MWh
Days of July 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 13-18 hour July 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 31
UAH
/
MWh
Days of July 2021
Source: Market operator - OREE
DAM IES Ukraine: electricity price in 19-24 hour July 2021
h 19 h 20 h 21 h 22 h 23 h 24
700
900
1100
1300
1500
1700
1900
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
31
UAH
/
MWh
Days of July 2021
Source: Market operator - OREE
DAM IES Ukraine: avg prices for offers of electricity
WAVG supply offers' price WAVG demand offers' price
1400
1500
1600
1700
1800
1900
2000
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
31
UAH
/
MWh
Days of July 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 July 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
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
bln
UAH
bln
UAH
Days of July 2021
Source: Market operator - OREE
DAM IES Ukraine: daily demand & supply offers
Supply value Demand value (right axis)

5. Ukraine’s market
July 2021
Page 4
DAM1)
price in 7-2021 increased to 1474,5 UAH by
1,26% compared to the 6-2021, and by 18,61%
through the year (1243,15 UAH base 07-2020).
In 7-2021 DAM IES2)
price increased by 1,33% to
1444,05 UAH - to the 6-2021 and by 20,76%
increase through the year (1195,77 UAH base
07-2020).
DAM BEI in 7-2021 remained in side way trend at
1705,05 UAH and slightly increased by 1,32% - to
7-2020 from 1682,76 UAH.
IDM price increased by 28,8% to 1745,43 UAH in
7-2021 - to the 6-2021 and by 51,18% growth from
1154,56 UAH through the year.
IDM IES price increased by 29,48% to 1751,81 UAH
in 7-2021 - to the 6-2021 and by 51,65% from
1155,16 through the year.
IDM BEI price decreased by 16,4% to 1510,22 UAH
- to the 6-2021 and increased by 42,89% from
1056,91 UAH through the year.
DAM electricity trade volume3)
on the OREE4)
gained 6,33% rise from 2,416 in 06-2021 to 2,568
mln MWh in 7-2021 and raised by 12,39% through
the year.
IDM trade volume on the OREE dropped by 70%
from 468 thou in 06-2021 to 142 thou MWh in
07-2021 and reduced by 77,7% from 637 thou
MWh in 07-2020.
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
The volume of electricity sales offers on OREE’s
DAM IES market in 7-2021 was x3,26 larger than
volume of buy offers and reached 132,8 mln MWh
(-29% to 6-2021 with 186,9 mln MWh). Volume of
buy offers stood at 40,7 mln MWh (-19,1% to
6-2021 with 50,3 mln MWh).
DAM BEI’s volume of sales offers in 7-2021 was 2,7
mln MWh (-12,9% to 6-2021 with 3,1 mln MWh),
and the demand volume of offers stood at 306,9
thou MWh (+5% to 6-2021 with 292,4 thou MWh).
Share of RES generation reached 8,8% (+0,84 p.p.
to 6-2021 with 880,8 thou MWh) - 1070 thou MWh
NEC Ukrenergo)1)
. The RES’s share reported by the
Ministry reached 11,4% (+1,04 p.p. to 6-2021 with
1182 thou MWh) - 1427,9 thou MWh2)
.
Generation in 7-2021 reached 12,2 mln MWh
(+10,2% to 6-2021 with 11,07 mln MWh) reported
by NEC Ukrenergo and 12,6 (+10,5% to 6-2021
with 11,4 mln MWh) reported by the Ministry.
Utilization of electricity in 7-2021 stood at 11,6
mln MWh (+9% to 6-2021 with 10,6) reported by
NEC Ukrenergo and 12,2 (+9,9% to 6-2021 with
11,1 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 July 2021 - fact data”
0
2
4
6
8
10
12
1
21
41
61
81
101
121
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
31
thousand
MWh
thousand
MWh
Days of July 2021
Source: Market operator - OREE
DAM BEI Ukraine: daily demand & supply offers
Supply Demand (right axis)
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 July 2021
Source: Market operator - OREE
DAM BEI Ukraine: daily demand & supply offers
Supply value Demand value (right axis)

6. Ukraine’s market
July 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
31
Source: TSO - NEC Ukrenergo
RES's share in genera�on of electricity in July 2021
(HPP's pump less)
RES's share in July 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
31
Source: TSO - NEC Ukrenergo
Overall genera�on structure in July 2021
(HPP's pump less)
Nuclear Fossil fuel cogenera�on RES TPP Large hydro
6431348
420430
1070005
3475374
780206
6429100
283900
1427900
3507400
790600
Nuclear Fossil fuel
cogenera�on
RES TPP Large hydro
Genera�on in July 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
31
thousand
MWh
a
day
Source: TSO - NEC Ukrenergo
U�liza�on of electricity in July 2021
In May 2021 In July 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 July 2021
In July 2021 In June 2021

7. Ukraine’s market
July 2021
Page 6
In Ukraine as of 1 July 2021, HH’s debt for utilities
dropped by 3,7% from 68,9 as of 1 June 2021 to
66,31 bln UAH. HH’s debt for electricity decreased
by 2,7% from 7,3 to 7,1 bln UAH1)
.
With service in 7-2021 The SOE “Guaranteed
buyer” signed contracts for electricity sales on
UEEX in volume of 566,8 thou MWh (x1,27 to
6-2021 with 447,8 thou MWh) valued at 687 mln
UAH (x1,24 to 6-2021), VAT less. Weighted average
sales price stood at 1211,53 (x0,98 to 06-2021 with
1234,7 UAH). However, the realized volume in
7-2021 was lower than contracted and stood at
561 (х1,28 to 6-2021 with 437,9 thou MWh)2)
.
1) State Statistics Service of Ukraine - SSSU
2) Ukrainian Energy Exchange - UEEX
28,6
25,4
6,2 5,4
1,1
7,6
26,0
22,7
6,3 5,4
1,2
7,3
24,7
21,5
6,4 5,5
1,2
7,1
Gas Heat & hot water Water &
drainage
Estate
management
Waste Electricity
Source: State Statistics Service of Ukraine
Households' debt for u�li�es as of July 1, 2021 in bln UAH
As of May 1, 2021 As of June 1, 2021 As of July 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 July 1
5,0
7,8
5,3
6,8
4,0
0,7
1,4
0
1
2
3
4
5
6
7
8
9
Jan Feb Mar Apr May Jun July
bln
UAH
Source: State Statistics Service of Ukraine
Subsidy for households paid for u�li�es and fuel purchase
739,6
1
224,7
1
190,2
1
263,4
0
200
400
600
800
1 000
1 200
1 400
1-7 8-19 11-16 15-24
UAH
/
MWh
Hours of electricity load
(aggregated blocks of sales)
Source: UEEX
Waighted average prices of sales by "Guaranteed buyer"
with service in July 2021
19,5
368,2
67,5
111,6
1
51
101
151
201
251
301
351
401
1-7 8-19 11-16 15-24
thousand
MWh
Hours of electricity load
(aggregated blocks of sales)
Source: UEEX
Sales volume of "Guaranteed buyer" with service in July
2021

8. Europe’s NordPool
July 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 July
Source: Nord Pool
Prices for electricity in Sweden, July 2021
(an hour)
SE1 SE2 SE3 SE4
-10
10
30
50
70
90
110
130
150
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
31
EUR
/
MWh
Days of July
Source: Nord Pool
Prices for electricity in Finland, July 2021
(an hour)
-20
0
20
40
60
80
100
120
140
160
1
2
3
5
6
7
9
10
12
13
14
16
17
18
20
21
23
24
25
27
28
29
31
EUR
/
MWh
Days of July
Source: Nord Pool
Prices for electricity in Denmark, July 2021
(an hour)
DK1 DK2
-60
-45
-30
-15
0
15
30
45
60
75
90
105
120
135
150
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
31
EUR
/
MWh
Days of July
Source: Nord Pool
Prices for electricity in Germany & Luxembourg, July 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
10
11
12
13
14
15
16
17
19
20
21
22
23
24
25
26
28
29
30
31
EUR
/
MWh
Days of July
Source: Nord Pool
Prices for electricity in France, July 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
10
11
12
13
14
15
16
17
19
20
21
22
23
24
25
26
28
29
30
31
EUR
/
MWh
Days of July
Source: Nord Pool
Prices for electricity in Netherlands, July 2021
(an hour)

9. Europe’s NordPool
July 2021
Page 8
PV generation in 7-2021 reached highest histori-
cal level in Spain (+28%) and Portugal (+40%) Y/Y
(base: 7-2020) or by 13% and 15% to June 2021. In
Germany PV increased generation by 0,3% Y/Y.
Italy, France demonstrated PV’s generation
decrease by 9,3% and 0,4% Y/Y.
However, comparing to June 2021 PV’s generation
in France increased by 2,7% and Italy has shown a
drop in generation by 7,3%, as well as Germany -
15% drop.
Overall wind based generation increased, howev-
er Germany has shown a drop by 15% Y/Y. Largest
upsurge observed in France by 7,1% to June 2021.
In Italy wind generation increased by 45% Y/Y.
Demand shifts in July 2021 have occured due to
temperature increase. In Germany, Great Britain,
Italy and the Netherlands demand for electricity
increased based on atmospheric termperature
increase. In Germany (7,5%) and the GB (7,3%)
increase in demand was notably higher compar-
ing to other countries. France and Portugal have
decreased demnad for electricity.
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
10
11
12
13
14
15
16
17
19
20
21
22
23
24
25
26
28
29
30
31
EUR
/
MWh
Days of July
Source: Nord Pool
Prices for electricity in Bal�cs, July 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
10
11
12
13
14
15
16
17
19
20
21
22
23
24
25
26
28
29
30
31
EUR
/
MWh
Days of July
Source: Nord Pool
Prices for electricity in Austria and Belgium, July 2021
(an hour)
BE AT

10. EU’s OMIE | GME | OTE
July 2021
Page 9
Photo: wallpapercave.com
-10
10
30
50
70
90
110
130
150
170
01
02
03
04
06
07
08
10
11
12
13
15
16
17
19
20
21
22
24
25
26
28
29
30
EUR
/
MWh
Days of July
Source: GME
DAM Italy in July 2021: price for electricity
DAM Italy in July 2021 DAM Italy in June 2021
-50
0
50
100
150
200
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 July
Source: OTE
DAM Czech Republic in July 2021: price for electricity
DAM Czech Rep. in July 2021 DAM Czech Rep, in June 2021
-10
10
30
50
70
90
110
130
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 July
Source: OMIE
DAM Spain in July 2021: price for electricity
DAM Spain in July 2021 DAM Spain in June 2021
-10
10
30
50
70
90
110
130
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 July
Source: OMIE
DAM Portugal in July 2021: price for electricity
DAM Portugal in July 2021 DAM Portugal in June 2021

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