Ukraine cuts electricity exports in monetary terms by 73% in Jan-Feb

Ukraine in January-February 2021 reduced foreign currency revenue from electricity exports by 73% year-over-year (y-o-y), to US$22.46 million.

Read alsoUkraine set to lift regulations off prices for all energy resourcesHungary accounted for 51% of the Ukrainian electricity sold abroad (US$11.4 million), while the share of Poland was about 26.8% (US$6 million) and that of Romania was 12.4% (US$2.7 million), according to Ukraine's State Customs Service.

Electricity exports to other countries stood at US$2.1 million.

At the same time, the country's spending on electricity imports in the two months of 2021 shrank from US$57.25 million y-o-y, to US$20.4 million. Expenditures on imports from Slovakia accounted for the lion's share, that is 53.5%, or US$10.9 million, those on electricity from Belarus for 39.4%, or US$8 million, from Hungary for 4%, or US$0.8 million, and the share of other countries, including Russia, was 3%, or US$0.6 million.

Background

• Ukraine in 2020 saw a 25.9% decline in electricity exports in monetary terms against 2019, to US$280.8 million.
• At the same time, the country's spending on electricity imports in 2020 grew by 8.4%, to US$131.6 million.