From January 1, 2026, China has completely stopped purchasing electricity from Russia, including the minimum contractual volumes. The reason is related to prices: the export cost of supplies from Russia in 2026 for the first time exceeded domestic electricity tariffs in China, making imports uneconomic. In China, the price remains virtually unchanged and is estimated at about 350 yuan per 1 MWh.
The contract for electricity supplies to China was concluded in 2012 and is valid until 2037.
Earlier, Inter RAO had already recorded a reduction in electricity exports to China in 2025 amid supply constraints in Russia’s Far East region, Reuters reported.
