OREANDA-NEWS. August 27, 2010. The expected wholesale market price for electricity in the Wholesale Electricity Market (WEM) of Ukraine will increase by 1.9% from September 1 and reach UAH 502.5 for 1 MWh (net of VAT).
 
The corresponding decision is authorized by resolution of the National Electricity Regulatory Commission (NERC) #1141 dated August 21, 2010.
 
Reportedly, the expected wholesale market price for electricity in the period from December 2008 to February 2009 remained unchanged, whereas in March-July 2009, the price went up by 3.4% to amount to UAH 408.4 for 1 MWh (net of VAT). In August, the price remained flat and in the period from September 2009 to February 2010 it increased by 11.2% to UAH 454.64 for 1 MWh (net of VAT). From March to April 2010, the situation remained unchanged. In May-July, the price grew by 8.5% reaching UAH 493.1 for 1 MWh (net of VAT). In August, it stayed at the same level.
 
The Commission reviews the expected wholesale market price monthly based on the expected production structure. Power supply companies take into account the forecast market price for electricity while calculating retail tariffs.
 
Earlier Segrey Titenko, the head of NERC, predicted the expected wholesale market price for electricity in the WEM in 2010 (December 09 vs December 10) to increase by 15%.
 
NERC is responsible for state regulation of the natural monopoly entities in power industry and oil and gas complex as well as for implementation of pricing and tariff policies in these spheres.