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Auction committee extends 'black list' on electricity market until March 1, 2022
KYIV. Aug 31 (Interfax-Ukraine) – The auction committee for the sale of electricity under bilateral agreements has extended the "black list" of electricity buyers until March 1, 2022, according to a press release from the Ministry of Energy of Ukraine.
"Since the introduction of the "black list," according to Guaranteed Buyer state enterprise, violations of contractual conditions, which became the basis for inclusion in this list, by market participants have ceased. The "black list" has shown its effectiveness as one of the preventive mechanisms," First Deputy Energy Minister Yuriy Vlasenko said.
The auction committee for the sale of electricity under bilateral contracts at its previous meeting on July 13 voted to amend the regulations for organizing and holding an electronic auction for the sale of electricity at the Ukrainian Energy Exchange. According to the amendments, the seller of electricity received the right to initiate the inclusion in the "black list" of the buyer who violated the obligations assumed under the bilateral electricity purchase and sale agreement.
"For this, the seller must submit a substantiated statement to the organizer of the auctions represented by the exchange," the Ministry of Energy said.
The exclusive list of criteria for filing such an application are non-registration by the buyer in the market management system of purchased volumes of electricity, lack of timely payment by the buyer (confirmed by a bank statement), as well as unilateral termination of the contract by the buyer.
As a result of being included in the "black list," an unscrupulous buyer is not allowed to the next auctions for the sale of electricity for six months.
