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Russia doubles electricity exports as cold winter & hot summer ensure lucrative price environment

Russia doubles electricity exports as cold winter & hot summer ensure lucrative price environment
Exports of Russian electricity have reached a record high since 2012, according to the country’s energy ministry, which projects that this year’s sales will nearly double compared to exports recorded in the first half of 2020.

Russian sales of electricity in the first half of 2021 may amount to 10.2 billion kilowatt-hours (kWh) against 5.2 billion kWh sold in the same period a year ago. In pre-pandemic 2019, the country exported 9.3 billion kWh.

The growth was mostly boosted by the surging supplies to the Baltic States, which have more than doubled the year-on-year purchases of Russian electricity up to 3 billion kWh, while Finland has more than tripled imports to 3.9 billion kWh.

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According to the ministry, the increase in supplies this year is the result of the favorable pricing environment, which it attributed to the prolonged cold and dry weather in winter and an abnormally hot summer.

Earlier this year, Russian power supplier Inter RAO said exports of electricity in 2021 may total 18 billion kWh.

For more stories on economy & finance visit RT's business section

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