Photo: Energoatom

Ukraine’s state-owned nuclear power producer NNEGC Energoatom has partially offset losses caused by a controversial electricity auction held on January 14, when the company sold power to private traders at prices that later proved to be significantly below market levels. This was reported by Andriy Gerus, chairman of the Verkhovna Rada’s Energy Committee.

At the auction, Energoatom sold 2,100 MW of baseload electricity for delivery during January 21–31 at an average price of UAH 7,566 per MWh. Two days later, on January 16, the National Energy and Utilities Regulatory Commission (NEURC) raised electricity price caps by 82.5% to UAH 15,000 per MWh, triggering a sharp rise in prices on the day-ahead market.

Disable ads
Disable ads

As a result, traders were able to resell the electricity at an unexpectedly high margin.

The situation became public on January 23.

According to Gerus, the gap between the auction price and subsequent market prices resulted in losses of around UAH 2 billion for the state-owned company, effectively turning into profits for private traders.

"As a result, contracts with nine companies were terminated ahead of schedule by mutual agreement. The companies that agreed to terminate the contracts were buyers of a total of 983 GWh. D.Trading terminated its contract for the period from January 26 to January 31. Most of the companies — six in total — terminated their contracts for January 29–31," Gerus wrote on Facebook on Monday.

D.Trading also returned to Energoatom the profits earned since the beginning of the contract.

The total estimated positive effect for Energoatom from early terminations and compensation — calculated as the difference between day-ahead market prices and contract prices — amounted to UAH 289.8 million.

  • On January 28, Energoatom appointed a new supervisory board, which is expected to select a new CEO in the near future.
  • Since August 2025, the company has been run on an interim basis by Pavlo Kovtoniuk.