Electricity exports from Russia to be around 2.1 bln kWh in Q1 2024, exceeding outlook - Inter RAO

SOCHI. March 27 (Interfax) - Electricity exports from Russia could be 2.1 billion kWh or slightly higher in the first quarter of 2024, Alexandra Panina, a member of the board of PJSC Inter RAO , told reporters on the sidelines of Atomexpo 2024.

This is higher than the business plan, though slightly below the actual figures for the same period last year, Panina said. The decrease was owing to supplies to China, which have been affected by three factors of the high accident rate of thermal generation, increased energy consumption, and low water availability, Panina said.

"In China, we have a 75% decline in January-February compared to last year, because the largest line is offline. This is the most unfavorable factor that occurred in the first quarter; and, unfortunately, it could remain for an extended time. Systematically, only the introduction of new generation could provide the necessary balance," Panina said.

Meantime, growth in electricity exports to Kazakhstan totaled 20%. Mongolia is receiving record volumes, and there are supplies to Kyrgyzstan in the first quarter, which did not exist a year ago, Panina said.

Consequently, the volume of electricity supplies has decreased, though Inter RAO's profit has exceeded the plan for the first quarter of 2024 and the actual indicators for the same period last year, the senior manager said.

Inter RAO is the only operator for export/import of electricity from Russia.