Warm weather and continued electricity imports from neighboring countries led to a decline of electricity consumption. This resulted in reduction of prices in the Burshtyn island on February 2nd and February 3rd to levels lower than in the United Energy System (UES) of Ukraine - 121-123 kop/kWh. The average daily trading volume in the Burshtyn island amounted to 12.1 mln kWh (+2% compared to last week). The average cost of the baseload product was 142.8 kop/kWh (-8% compared to last week).

In the UES, the baseload price fluctuated between 115-126.5 kop/kWh and averaged 121 kop/kWh, which is 2% lower than last week's average. The average daily trading volume was 127.4 mln kWh (-24% compared to last week). On February 4th, the lowest trading volumes were recorded since the beginning of 2020 - 119.7 mln kWh.
On January 31st NEURC issued a publication on its official Facebook page regarding possible manipulations and unfair market participant actions potentially being the reason for price reduction in January and February. "NEURC noticed a significant decrease in prices of bidders in the applications for electricity sales on the Day-ahead market (DAM) in January 2020. This may indicate signs of manipulations on the market” – states the post. Please see the diagrams below for more details:

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