Ukrenergo CEO Vsevolod Kovalchuk and the Secretary-General of ENTSO-E Laurent Schmitt signed an Agreement regarding Transmission of data from Ukraine’s power system to the Transparency Platform. The document stipulates that Ukrenergo will continuously submit and update the data in the ENTSO-E platform on the power system’s load, capacity and balancing.
Data exchange on the transparency platform is another important step towards Ukrenergo’s integration into the European network of system operators and is a prerequisite for all ENTSO-E members.
The proposed Agreement on the Free Use of Data will allow all market participants and other stakeholders to reuse the data for any purpose free of charge. In practice, the availability of data will make the electricity market more transparent and predictable, while the grid will be more flexible.
Data availability, in the long run, will have a significant impact on the new electricity market to be implemented in Ukraine from July 1, 2019, because the modern model of a competitive market is very sensitive to up-to-date data on consumption, wind and solar generation, imports, exports, etc.
Using the open data will enable traders to calculate the price more accurately, generation – to determine the best mode of operation for power units, and the system operator – to maintain a balance in the power system due to better forecasting of consumption and generation.
Transparency platform is the largest and most important database of the European power grid. ENTSO-E is responsible for the publication of data and electricity markets in compliance with Regulation (EU) No 543/2013 of 14 June 2013. The main task of the platform is to contribute to the functioning and development of a pan-European electricity market. The Transparency platform provides continuous and free access to the key information on the European grid for all market participants and other stakeholders.