Electricity in Russia in 2023/2024

Over the past twelve months, from August 2023 to July 2024, electricity consumption in Russia has been dominated by fossil fuels, which account for close to two-thirds of the energy mix, with gas being the most significant contributor at nearly 45%, followed by coal at close to 17%. Meanwhile, low-carbon electricity, a greener alternative, contributes over a third of the total electricity supply. Within this low-carbon segment, nuclear energy is slightly above 18%, while hydropower is almost an equal contributor at roughly 18%. This reliance on fossil fuels raises concerns, notably about environmental impacts such as climate change and air pollution, indicating a pressing need to transition towards cleaner energy sources.

Suggestions

To enhance low-carbon electricity generation, Russia can expand its existing nuclear capabilities, leveraging its experience and technological expertise in this area. Russia can draw inspiration from countries with a high share of low-carbon electricity generation. France and Slovakia serve as exemplary models, where nuclear energy constitutes a significant majority of their electricity portfolios. In addition, Ukraine's successful initiative using nuclear for over half of its electricity needs underlines the feasibility of sustaining high nuclear production. Such examples can guide Russian strategies to further bolster its nuclear sector, complementing this with investments in wind and solar technologies to create a balanced and diversified low-carbon electricity mix.

History

The history of low-carbon electricity in Russia reveals a fluctuating trajectory, particularly concerning nuclear energy. In the late 1980s, nuclear electricity generation experienced a notable decline, with a sharp decrease in 1990 and further reductions recorded by 1994. However, the 2000s marked a period of recovery, with consistent year-on-year growth, peaking around 2014 and 2015. Concurrently, hydropower saw mixed trends, with remarkable growth spurts in 2004, 2013, and 2016, even as certain years recorded declines, such as in 1996 and 2022. This historical analysis underscores the importance of commitment and planning in sustaining a robust low-carbon electricity framework, emphasizing Russia's potential to leverage its past for a clean and sustainable energy future.

Electricity Imports and Exports

Balance of Trade

Data Sources