Ukraine's Electricity Imports Surge 41% to Record High Following Price Cap Increase

Sharp Increase in Ukraine's Electricity Imports

According to Главком: Following an increase in electricity price caps effective January 18, 2026, Ukraine's average daily electricity imports rose by 41%. This surge was triggered by adjustments to prices on the market's short-term segments, which were announced on January 17 for the supply day of January 18. According to the data, average daily imports climbed to 33.9 thousand MWh. This policy shift reflects ongoing efforts to balance the domestic energy market, which has faced significant challenges since the war began.

The comparison of import figures was made between the periods of January 1–17, 2026, and January 18–30, 2026. In January 2026, a new daily import record was set at 41.9 thousand MWh. The number of hours during which import capacities were utilized at 100% also increased.

Daytime Import Dynamics

The most significant import growth was observed during daytime hours from 8:00 AM to 5:00 PM, where import volumes rose by 50–135% compared to the first half of the month. Concurrently, the upper price cap for all hours on the 'day-ahead' and intraday markets was raised to UAH 15,000 per MWh, while the maximum limit price on the balancing market was set at UAH 16,000 per MWh.

The rise in electricity imports indicates the market's adaptation to new pricing conditions and heightened daytime demand for power. It may also reflect a need for additional resources to ensure the stability of the energy system, particularly during peak load periods. Continued market monitoring will help assess the impact of these changes on the overall balance of energy resources and pricing policy in Ukraine.