Review 16–22 July 2018

Innovations of the week: SE NEC Ukrenergo is preparing for the introduction of balancing electricity market

According to the Law of Ukraine "On Electricity Market", Ukraine should introduce balancing electricity market with a new settlements system. In order to move to new terms of electricity supply, SE NEC Ukrenergo signed a contract for the supply of software that takes into account all future changes. 

The suppliers of the software will be the Hungarian company IPSystemsZrt and the Austrian SmartTechnologiesManagement-BeratungsundBeteiligungsmbH. The subcontractor is Siemens AGAustria. The contract worth USD 8 million also provides for technical support within five years. 

According to Andriy Nemirovskiy, the deputy director of SE NEC Ukrenergo for market and IT development, Ukraine has no platforms for competitive trade provided by the strategy, therefore the above software "will become the basis for functioning these platforms and arranging in order all business processes". 

Event of the week: The government supported the strategy of Ukraine's transition to low carbon development by 2050

The document provides for lowering greenhouse gas emissions, gradual abandonment of fossil fuels and focus on RES. In particular, the strategy provides for the promotion of using motor fuels and moving to more environmentally friendly transports, lowering greenhouse gas emissions such as methane and nitrogen oxide. In the opinion of the strategy's developers, the sustainable development of agriculture and forestry should promote an increase in carbon pickup. 

Figure of the week: Electricity generation from RES grew by 30% in June 

Ukraine’s Renewable Energy Association, referring to the Ministry of Energy and Coal Industry, reported an increase in electricity generation by wind, solar and biomass plants by 30% in June. In total, 207.0 million kWh was generated in June, which is 50 million kWh more than in the same period last year. 

Ukraine’s largest generating company DTEK has powerful RES investment plans. In the next two years, the company intends to invest about EUR 750 million in the construction of wind and solar plants. The designed capacity of future facilities to be 740 MW. The probability of implementing these projects is high enough, as, according to the long-term forecast of FitchRatingsDTEKRenewablesB.V., has stable development prospects.