Electricity exports to China to hit a record 4.4-4.5 kWh in 2022 - Inter RAO chief

UFA. Dec 7 (Interfax) - Electricity exports to China will reach a record 4.4-4.5 billion kilowatt-hours in 2022, Boris Kovalchuk, CEO of Inter RAO , told reporters.

He did not give an estimate for overall exports, however that can be deduced from what used to be supplied to Finland and the Baltic States.

"Yes, the Baltic and Finland market, we've left that and at present there's no prospect of us returning," Kovalchuk said.

Electricity exports soared 86.1% to a 10-year high of 21.77 billion kWh in 2021.

Most exports went to Finland at 8.2 billion kWh, up 3.1-fold, the Baltic countries at 4.7 billion kWh, up 37.1%, and China at 3.97 billion kWh, up 29.9%. Shipments to Kazakhstan also significantly increased to 1.8 billion kWh, up 43.4%, along with deliveries to Georgia increasing threefold to 1.7 billion kWh and to Mongolia by 55.9% to 490 million kWh.

Europe has been Inter RAO's biggest market, but Finland and the Baltic States stopped importing electricity from Russia in the spring, citing difficulties with payment.

Inter RAO is a diversified energy holding that manages assets in Russia, Europe and the CIS. It is the only Russian electricity export-import operator.

Rosneftegaz is the principal shareholder of Inter RAO with 27.63%, PJSC FGC UES owns 8.57%, Inter RAO Capital holds 29.56%, and the remaining 34.24% is in free float.