China halts electricity imports from Russia, Russian media reports
on Google
China's electricity purchases from Russia were suspended on Jan. 1 due to higher export prices that now exceed Chinese domestic rates, pro-Kremlin newspaper Kommersant reported.
Inter RAO, one of the largest Russian public energy companies, was responsible for exporting surplus electricity from the Russian Far East to supply China's State Grid Corporation with an estimated 4 billion kilowatt-hours (kWh) of electricity per year.
Supply contracts between Beijing and Moscow run until 2037, although Kommersant's sources say that exports are unlikely to resume this year.
Despite this, Inter RAO affirms that the contracts will remain in effect and that it is in constant communication with its Chinese colleagues.
The Kyiv Independent cannot verify claims made by Russian media.
Russian electricity prices have risen by a colossal 42% in comparison to last January. Kommersant comments that market liberalization in the Far East could be the cause.
In China, in turn, electricity prices remain practically unchanged, hovering around 350 yuan ($50.2) per 1 Megawatt-hour (MWh).
Russia's Energy Ministry says exports can resume if China submits a request accompanied by a mutually beneficial agreement, reports Kommersant.
The ministry maintains that providing electricity to the Far East's economy remains a key priority for Russia.
The economic relationship with China has been a significant lifeline for Russia since the start of its full-scale invasion of Ukraine.
When Moscow faced international sanctions, China continued buying Russian oil, gas, and coal, while also selling cars and technology to Moscow. Despite the value of their trade declining in 2024, it still totalled $234 billion, according to data from China's General Administration of Customs.
