In July 2025, Ukraine exported 282.2 thousand megawatt-hours of electricity is 16% more than in June. For comparison, a year ago during this period, there were no exports at all. Against this background, imports also increased — by 24.7% for the month and reached 257.7 thousand MWh. However, on an annual basis, on the contrary, the volume of imported electricity fell by three times.
The key direction of the July breakthrough was Moldova: more than 115 thousand MW-hours — almost 41% of all exports. Exports in this direction went virtually around the clock. Ukraine has not demonstrated such a level of shipments to Chisinau since the resumption of electricity trade. Instead, deliveries to Slovakia decreased by a quarter in a month.
Despite the fact that Ukraine remains a net exporter of electricity by volume, the financial balance is not in its favor. According to ExPro, the total cost of imports significantly exceeds foreign exchange earnings from exports.
Hungary continues to dominate the structure of imports — it accounts for almost 41% of all July deliveries. At the same time, Moldova more than halved its exports to Ukraine – by 55%, and Poland reduced volumes by almost 1%. In other directions, imports increased, but overall volumes remained lower than pre-war levels.
The July energy picture shows that Ukraine is gradually returning to active participation in the European energy market. However, the financial performance of exports and imports remains vulnerable, not only due to volumes, but also due to price, network access policies and seasonal volatility of consumption.
