Inter RAO expected Russia to export 10.5 bln kWh of electricity in 2023 before export duty

SOCHI. Sept 25 (Interfax) - Russian electricity exports were expected to total 10.5 billion kWh in 2023 before the imposition of export duties, which would have been less than in 2022, Inter RAO CEO Alexandra Panina told reporters on the sidelines of the Market Council conference.

"In light of the duties, we need to recalculate, assess the consequences. This might have some kind of impact," Panina said.

The largest market for Russian electricity exports this year will be Kazakhstan, followed by China, she said. "The forecast for Kazakhstan is slightly less than 5 billion kWh. China is expected to be lower than last year, but on par with the ten-year average," Panina said.

She said exports to China fell by about 21% year-on-year in the first eight months of 2023 and 55%-56% in August-September because of low water levels, accidents and the growth of electricity consumption in Russia's Far East.

"The situation remains tense. At this point we see factors for an improvement in the situation. It depends a great deal on water levels," Panina said.

She also said Mongolia is an important export market, as electricity consumption in the country is growing rapidly. "Before the imposition of sanctions, we had plans to supply 850 million kWh. For Mongolia this is an all-time peak," Panina said.

The company is also exporting to Azerbaijan and supplying about 20 MW to South Ossetia. There were also supplies to Turkey in April, May and June, Panina said, remarking that there are sometimes exports to Georgia and Turkey, but not at the moment.

The potential for exports to southern markets is estimated at 1 GW, she said.