China has suspended purchases of Russian electricity after export prices, starting in January 2026, exceeded domestic rates in China for the first time.
Since the start of 2026, China has completely stopped importing electricity from Russia and isn’t buying even the minimum contractual volume - about 12 MW, Russian media reported.
Sources say Russian electricity exports to China are unlikely to resume this year because the delivery price since January has been higher than China’s domestic electricity prices, making further purchases uneconomical for Beijing.
The supply contract, signed with State Grid Corporation of China in 2012, runs until 2037. It envisioned total deliveries of around 100 billion kWh over the term, or roughly 4 billion kWh a year. The contract’s pricing formula is unknown. It may be tied to the single-rate price (capacity plus energy) set in Russia’s Far East and also factor in the trunk grid tariff to move electricity to the Amurskaya–Heihe cross-border line and the supplier’s margin. Chinese importers then sell the electricity to their customers at retail prices.
Electricity prices in China have stayed nearly flat at about 350 yuan per MWh. In Russia’s Far East, the single-rate price in January could be about 4,300 rubles ($55.17) per MWh - 42% higher than at the start of last year.
Russia’s Energy Ministry said exports to China could resume if Beijing submits a request and the sides reach mutually beneficial terms.
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