LLC Gas TSO of Ukraine informs that in course of introduction of provisions of the Law of Ukraine “On amendments to some laws of Ukraine regarding the prevention of abuse in wholesale energy markets”, on 04 October 2023 the National Energy and Utilities Regulatory Commission adopted Resolution No. 1812 on approval of the Procedure for the Registration of Wholesale Energy Market Participants (hereinafter: the Resolution).

The Resolution entered into force on 15 October 2023.

In accordance with the provisions of point 2 of the Resolution, traders and gas distribution system operators are recommended to submit registration forms for registration and issuance of the ECRB code by the NEURC in the period from 10 to 15 November 2023. Natural gas suppliers are recommended to submit registration forms between 15 and 29 December 2023.

Along with this, point 5 of the Resolution stipulates that from 01 February 2024, transactions with wholesale energy products may be carried out exclusively by entities who have registered as wholesale energy market participants in accordance with the Procedure for registering wholesale energy market participants, approved by the Resolution.

The registration form is an annex to the Resolution, which can be downloaded via the link.

In addition, for the convenience of network users, LLC Gas TSO of Ukraine provides an unofficial English translation of the texts of the Resolution and the registration form.

In accordance with point 2.4 of the Procedure for Registration of Wholesale Energy Market Participants and the information posted on the NEURC website, the registration form can be sent to the NEURC:

(1) by an authorized representative who is a resident of Ukraine, in electronic form in “xls” or “xlsx” format using:

• NEURC website (submit the registration form);
• The portal of electronic services of the Ministry of Economy (https://my.gov.ua/) or the Diya Portal “Guide to State Services” (https://guide.diia.gov.ua/);
• with the imposition of a qualified electronic signature of an authorized representative and/or a qualified electronic seal (if available) in compliance with the requirements of the laws of Ukraine “On electronic documents and electronic document management” and “On electronic trust services” in the format supported by the Central Certification Body;

(2) by an authorized representative, who is a non-resident of Ukraine, in paper form on purpose or by postal delivery to the address of the NEURC (the original of the completed registration form signed by the authorized representative) with the simultaneous submission of the registration form in electronic form in “xls” or “xlsx” format through the NEURC official website (submit the registration form) without applying a qualified electronic signature.

If an authorized representative acts on the basis of a duly executed and legalized power of attorney or order (for employees of an entity), a copy of such power of attorney or order shall be sent together with the registration form.

TO YOUR ATTENTION:

In accordance with Article 9¹ of the Law of Ukraine “On the Natural Gas Market”, only entities who are registered as wholesale energy market participants in accordance with the procedure approved by the Regulator shall be entitled to carry out transactions with wholesale energy products.

In turn, in accordance with Article 2¹ (1)(5) of the Law of Ukraine “On the National Energy and Utilities Regulatory Commission”, “wholesale energy products” mean the following:

“wholesale energy products mean contracts (agreements) regardless of the place and time of their conclusion, in particular:

electricity or natural gas purchase and sale contracts;

derivative contracts whose underlying asset is electricity or natural gas; 

contracts for transmission of electricity or transmission of natural gas, access to capacity/capacity allocation; 

derivative contracts for electricity transmission or natural gas transmission, access to capacity/capacity allocation; 

contracts for the supply or distribution of electricity and/or natural gas to final customers with the total nominal capacity of consumption of customer’s installations, which ensures the technical capacity of consumption of electricity or gas in the amount of 600 GW•h per year and above;“.

Traders and gas distribution system operators are recommended to submit to the NEURC filled out registration forms in the period of 10-15 November 2023, and natural gas suppliers – in the period of 15-29 December 2023. In accordance with point 4 of the Resolution, the registration campaign lasts until 01 February 2024, after which wholesale energy market participants without registration are prohibited from conducting transactions with wholesale energy products.

The provisions of Article 59 (2)(17) of the Law of Ukraine “On the Natural Gas Market” making transactions with wholesale energy products without registration as a wholesale energy market participant recognized as a violation on the natural gas market.

Article 59 (4)(5)(e) of the Law of Ukraine “On the Natural Gas Market” provides for a sanction in the form of a fine from 3,000 to 100,000 non-taxable minimum incomes of citizens (UAH 51,000 – UAH 1,700,000).