On Bank announced the elimination of the formula Rotterdam+

На Банковой заявили о ликвидации формулы Роттердам+

Andrew Gerus stated that the rate of TES during the first decade of June is 29% below the corresponding rate according to the Rotterdam+

In June the coal power plant will receive about UAH 1.5 billion less than would be obtained in the actual rate Rotterdam+, says Andrey Gerus.

Thermal generation of Ukraine is not making money on so-called formula Rotterdam+. This was announced by the representative of the President in the Cabinet of Ministers Andriy Gerus in Facebook on Wednesday, June 19.

He noted that according to the national Commission, the estimated rate of TES according to formula Rotterdam+ in the first half of 2019 was supposed to be 2 UAH/kWh. But in the last decade of may, this rate dropped 24%, to 1.53 UAH/kWh. During the first decade of June, the rate decreased to 1.43 UAH, which is 29% lower than the corresponding rate according to the Rotterdam+.

“Seasonality has no significant influence on these rates, but to complete the picture it is possible to compare this rate with the corresponding periods in 2018. In the last decade of may and first week of June this year, the TES rates of 17%-24% lower than last year during the same periods,” said Gerus.

Thus, according to his calculations, in June the coal power plant will receive about UAH 1.5 billion less than would be obtained in the actual rate Rotterdam+, and their tariff revenues for the second quarter of 2019 would be 3 billion hryvnia more.

“The actual elimination Rotterdam+ took place thanks to the actions of a wide range of individuals, the big public resonance, coverage of the corruption formula in the media, social networks, etc. We did it together,” – said the representative of the President in the Cabinet.

In addition, Gerus said that President Vladimir Zelensky plans to submit a bill to Parliament that would replace the formula of Rotterdam the Rotterdam – “that was not the formal existence of this formula”.

Recall, the NAB has started investigation according to the formula Rotterdam+ members of the national Commission a year ago. According to investigators, the actions of officials led to economically unjustified increase in the price of electricity. The controversial formula was planned to be abolished in the summer of 2019 in connection with the onset of the new electricity market.

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