Energy prices and supply might get even worse in Ukraine, as Russia ceases exports of thermal coal to Ukraine from tomorrow.
From tomorrow, Ukraine will no longer be receiving coal from Russia, according to Kyiv Post citing the head of the parliamentary energy committee, Andriy Gerus. He wrote it on his telegram channel, saying the “Russian actions are similar to those in the fall of 2014.”
It is bad news indeed, as seven different power plants are importing coal from Russia, according to Gerus. Among them is two large power stations run by DTEK, the energy mastodon owned by oligarch Rinat Akhmetov.
Ukraine has entered heating season with very low stockpiles of coal. Across the country, power plants and heating stations stored just 710,000 tons of coal, which is a quarter of the planned stock, according to Kyiv Post.
In general, the global price has been spiking due to a deficit on coal in China and rising fossil fuel prices. Ukraine has large amounts of coal in the underground, but unfortunately, many of the mines have been unprofitable for a long time.
Especially the mines in the war-torn Donbas Region has been damaged by war and neglect since the war broke out in 2014. Today there is a political push to close these mines, many of which are flooded.