Energetic company DTEK of an oligarch Rinat Akhmetov has announced a tender for the purchase of 450,000 tonnes of coal at a price determined by the Rotterdam+ formula. This is stated in the reports on the site of the energy exchange.

In total, DTEK wants to buy about 450,000 tonnes of coal. Bidding is scheduled for September 3 and 4, 2019.

According to company representatives, the cost of coal to be purchased by Akhmetov’s company is determined by the Rotterdam+ formula (that is, the market price of coal on the exchange in Rotterdam plus the cost of delivering coal from Rotterdam to Ukraine).

“Today, there is a limited supply of coal on international markets. We use all available tools to find fuel for our TPPs. At the auction we focus on the prices of real import parity, taking into account the price of the freight, railway tariff and transshipment (Rotterdam+),” DTEK reported.

Note that the Rotterdam+ formula does not currently work in Ukraine and does not affect the final cost of electricity to the public. This formula has lost its meaning since the introduction of the new electricity market from July 1, 2019.

Leave A Reply