"Since June 2022, we have completely halted commercial deliveries to European Union countries. At the same time, we significantly increased exports to China and Mongolia. Volume of kilowatt-hours sold in these directions is set to reach an all-time record once 2022 results are finalized," Kovalchuk said at a meeting with Russian Prime Minister Mikhail Mishustin.
Inter RAO suspended supplies to Europe after sanctions against Moscow started preventing Western customers from paying for Russian energy.
Russian Energy Minister Nikolay Shulginov said at the end of December that as of 2022, the export of energy from Russia to China and Mongolia increased by 15-20% and would likely increase by another 16% for China alone.
Inter RAO provides electricity to China from the Amur Region under a long-term take-or-pay contract. In previous years, the exports amounted to 3 billion kWh per annum. In 2021, China asked for supplies to be increased due to power shortages. A total of 3.8 billion kWh worth $181.5 billion was exported in 2021.
Inter RAO is the only operator of electricity exports and imports in Russia. The diversified energy holding company manages assets in Russia, as well as in Europe and the Commonwealth of Independent States.