In February, Ukraine experienced a significant escalation in its electricity imports, achieving a record total of 1,263 GWh. This figure represents a 41% increase from January and marks the highest monthly import level since the establishment of the current electricity market framework in mid-2019. The surge in imports comes as the country grapples with severe pressures on its power system due to ongoing military conflicts and adverse winter weather conditions.
The increase in electricity imports has been largely driven by extensive Russian missile strikes targeting critical energy infrastructure, including power plants and high-voltage substations. These attacks have resulted in substantial disruptions, leading to a persistent deficit in generating capacity that peaked at approximately 5–6 GW during high-demand periods. Additionally, recent air assaults have compelled Ukrainian nuclear power facilities to reduce their output temporarily, further intensifying the need for external electricity supplies to ensure stability.
Hungary has emerged as the primary source of these imports, supplying nearly 50% of total deliveries. Romania and Slovakia follow as significant contributors, providing around 19% and 18%, respectively. Notably, the highest daily import occurred on February 8, when Ukraine received 50.6 GWh, coinciding with the aftermath of a major missile attack.
A regulatory shift has also played a crucial role in this import surge. Ukrainian authorities have raised price caps to approximately €300/MWh, enhancing the economic attractiveness of imports for suppliers. This adjustment has led to increased import volumes across nearly all cross-border routes into Ukraine.
Throughout February, Ukraine utilized close to 90% of its available interconnection capacity with EU countries and Moldova. This marks a continued trend, as Ukraine has remained a net importer of electricity for five consecutive months, reflecting the ongoing challenges posed by military actions on its energy infrastructure.
