By KYIV. Sept 22 (Interfax-Ukraine) – The auditing company AC Crowe Ukraine completed the audit of JSC Market Operator for 2022 on compliance with the provisions of the day-ahead market (DAM) and intraday market (IDM) rules with a positive conclusion.
“The auditors checked the submission of applications for the purchase and sale of electrical energy by DAM/IDM participants, the correctness of determining the results of trading on the DAM and IDM and the associated accruals, as well as the processes applied by the Market Operator to the data provided by the companies,” JSC Market Operator said on its website.
In addition, auditors tested alternative operator software regarding the ability to manage processes on the spot market in accordance with the requirements of the DAM/IDM rules.
“Based on the procedures performed and the evidence obtained, nothing has come to our attention that would lead us to believe that Market Operator did not comply in all material respects with the requirements of the DAM and IDM rules … during the period from January 1 to December 31, 2022,” the company quoted an excerpt from the auditors’ report.
As Market Operator informed, this year the auditors noted the high level of organization of the DAM/IDM work by the company in the first months of the full-scale attack by Russia and in the conditions of shelling the energy infrastructure, which allowed the Ukrainian electricity spot market to function stably during the period of greatest uncertainty.
The rules of the day-ahead market (DAM) and the intraday market (IDM) were approved by Resolution of the National Energy and Utilities Regulatory Commission (NEURC) dated March 14, 2018 No. 308.
The auditing company AC Crowe Ukraine is a member of the international network Crowe Global, one of the 10 largest auditors in the world.
