According to analysts, the increase in imports occurred against the backdrop of a significant reduction in available domestic generation as a result of Russian attacks on energy infrastructure.
Massive shelling on February 3 and 7 damaged generation facilities, high-voltage substations, and transmission and distribution networks, forcing the unloading of nuclear power plants that provide more than half of Ukraine's electricity production. The attacks coincided with a period of severe frosts and increased consumption, the authors of the analytical report noted.
“After the shelling, daily imports increased to 47.1 thousand MWh on February 4, which is 15% more than the day before, and on February 8 it reached 50.6 thousand MWh – another 18% increase compared to February 7. The figure on February 8 became the maximum daily import volume since July 2019, that is, since the launch of the new electricity market,” the material says.
Analysts note that it became possible to quickly increase imports on critical days, in particular, thanks to an increase in the price cap in the electricity market. Adjustments to price caps removed economic barriers to imports during times when domestic generation is in short supply and allowed for efficient use of interstate crossings during peak shortage periods.
