On February 9, 2026, the “Energy Union” NGO held an urgent meeting regarding the critical situation with prices and settlements on Ukraine’s electricity market.
The event brought together suppliers operating at free-market prices, universal service providers, representatives of the National Energy and Utilities Regulatory Commission (NEURC), the Ministry of Energy of Ukraine, and the Federation of Employers of Ukraine.
During the meeting, suppliers outlined the real financial condition of their companies. The key problem remains significant cash gaps, which have already reached a critical level, creating risks not only for the stability of suppliers but also threatening the continued operation of enterprises, which, under such electricity price levels, may be forced to reduce or halt production.
Price Situation on the Day-Ahead Market (DAM)
Participants paid particular attention to the situation on the Day-Ahead Market (DAM). The cost of base electricity at approximately UAH 15,000/MWh was described as catastrophic — both for suppliers and for end consumers. Such price levels impose excessive financial burdens on the entire economy.
It was emphasized that the Ukrainian market is still not functioning under a long-term bilateral contract (BC) model, as is common in European markets. Most participants rely on DAM indicators, which distorts price signals across the country.
Imbalance Issue
The issue of imbalances was raised separately. Suppliers drew attention to their high cost and the unfairness of imposing financial responsibility on the supplier in cases where electricity has already been purchased, but the consumer is disconnected due to the physical absence of electricity supply. Such situations result in multi-million losses that are beyond the supplier’s control.
Position of Universal Service Providers (USPs)
Universal service providers highlighted a critical financial situation in the segment of electricity supply to household and small non-household consumers.
Key problems include:
- Significant cash gaps due to the difference between market and regulated prices;
- Insufficient working capital to make purchases on the Day-Ahead Market (DAM);
- Growth of imbalances;
Actual provision within the framework of the Universal Service Obligation (USO) is approximately only 16% of demand, forcing USPs to cover the deficit with purchases on the DAM at high prices, creating risks for meeting obligations to consumers.
USPs consider it appropriate, at present, to be supplied with electricity from the State Enterprise “Guaranteed Buyer” in volumes as close as possible to demand (80–100%). This would help reduce price pressure, stabilize financial settlements within the USO framework, and decrease additional burdens on NJSC “Energoatom.”
Market Proposals
Key proposals include:
- Reviewing and reducing price caps;
- Increasing transparency of market information;
- Temporarily revising approaches to imbalance pricing during martial law.
Following the discussion, participants emphasized the need for urgent systemic measures to stabilize the market, enhance price transparency, and ensure fair distribution of financial risks among participants.
Thanks to all meeting participants for their active engagement, substantive presentations, and constructive proposals.