MOSCOW, Sept 11 (Askume) – Russia’s Inter RAO (IRAO.MM ) expects to lose 20% of its revenue in 2024 as sales in China decline by 35%, a senior company manager said on Wednesday, according to the Interfax news agency.
Russia is cutting power exports to China amid strong demand for electricity in the Russian Far East, where hydropower generation capacity is limited due to low river levels.
Inter RAO, Russia’s sole electricity exporter, now expects its exports to fall from 10.7 billion kilowatt-hours in 2023 to about 7 billion kilowatt-hours (kWh) in 2024, with exports to China falling by 3.1 billion kilowatt-hours to 10 billion kilowatt-hours.
Inter RAO previously expected its exports to fall to about 8 billion kilowatt-hours (kWh) by 2024.
