Ukraine’s energy market has seen a significant uptick in electricity imports following a crucial adjustment to price caps. This decision, made on January 17, 2026, was aimed at addressing the challenges posed by widespread power outages and regulatory restrictions.
Experts noted that the introduction of a state of emergency in the energy sector necessitated an increase in imports. However, companies faced hurdles due to regulatory limits that made importing electricity from the EU financially unviable, as prices often exceeded the set thresholds in the Ukrainian market.
“Companies could not import electricity that was more expensive than the allowed price caps in the Ukrainian market,” stated expert Prokip.
To alleviate these restrictions, the regulatory authority raised the price caps across various market segments, including day-ahead, intraday, and balancing markets. This change resulted in a substantial rise in average daily imports, climbing from 23,700 MWh to 33,800 MWh.
Consequently, January 2026 marked a record high for electricity imports, totaling 894,500 MWh. In comparison, imports for December were recorded at 639,500 MWh, while November saw only 414,700 MWh.
The quarterly report from the Energy Community – Ukraine Energy Market Observatory for Q4 2025 highlighted that the revision of price caps unlocked economically viable imports during times of shortage, becoming a key factor in stabilizing the energy system.
Ukrhydroenergo has also reported that the increase in price caps has had a systemic effect, facilitating greater import capacity and aiding in system balancing. Energy Minister Denys Shmyhal added that the adjustments allowed for an additional 1 GW of import capacity, which was redirected to meet consumer needs.
The recent increase in electricity price caps in Ukraine has led to a notable rise in imports, addressing challenges posed by power shortages. January 2026 recorded the highest import levels, significantly stabilizing the energy market.