By Svitlana Chekunova. Unjustified Russian invasion of Ukraine had severe impact on the wholesale electricity market. Since the beginning of the war, there has been a 35% decline in electricity consumption and about 65% in payments. A number of Ukrainian enterprises have stopped functioning. More than 5 million Ukrainians have left their homes and fled abroad. Households were allowed to postpone payments for the utilities which has caused a working capital deficit for the generating enterprises. The energy infrastructure was heavily damaged.
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