Retail prices for electricity for industrial enterprises in Ukraine increased by an average of 20% in the first ten days of May compared to the average price in April, reported former Energy Minister Olga Buslavets. The average electricity price index on the day-ahead market for the first thirteen days of May was €112 per MWh, one of the highest in Europe.
“Objective factors that affected the price: cold, cloudy weather (which impacted consumption growth), low solar activity, four of nine nuclear units under repair, scarce water for hydroelectric power plants due to low flooding, and some CHP units also being stopped to conserve gas,” the expert explained.
Meanwhile, the launch of a nuclear power plant unit following repairs on May 12 led to an immediate decrease in market prices.
However, the Ingulets Mining and Processing Plant, part of the Metinvest Group, remains idle due to high electricity and logistics costs. The plant ceased operations in the summer of 2024 because it could not ensure competitive production costs in export markets.