Ukraine's energy sector losses from Russian strikes surpass $20 bln – Energy Club VP citing RDNA4
Losses in Ukraine's energy sector due to Russian strikes had exceeded $20 billion by the end of 2024, reported Energy Club Vice President and former Head of the State Agency for Energy Efficiency (2021-2023) Valeriy Bezus, citing the Ukraine Fourth Rapid Damage and Needs Assessment (RDNA4).
"The fourth report assessing damage and recovery needs across Ukraine's economy under the auspices of the World Bank has recently been completed. We conducted a substantial effort to update data for this report regarding the energy sector. According to the assessment team, by the end of 2024, the direct, quantifiable losses had nearly doubled, reaching over $20 billion," Bezus said during the online event "Energy Dialogue: Results of Winter 2024/2025, Recovery Challenges, and Development Prospects for the Next Winter," hosted by Energy Club on Friday.
He highlighted that the most significant increase in losses came from the electricity sector but emphasized that "damage affects all segments of the energy sector."
Bezus pointed out that, according to RDNA4, nearly $70 billion would be required for the full recovery of the energy sector.
"It is impossible to raise such a sum in months or even years. However, proper recovery planning and prioritization lay the foundation for the sector's future resilience," he said.
As reported, the Rapid Damage and Needs Assessment (RDNA3), published a year ago by the Ukrainian government, the World Bank Group, the European Commission, and the UN, estimated Ukraine's direct war-related losses at $152 billion over nearly two years. Of this amount, 7% pertained to the energy sector, with energy recovery needs assessed at $47 billion (10% of the total estimated recovery need of $486 billion).