Ukraine's energy sector losses from Russian strikes exceed $20 billion – Energy Club vice president, citing RDNA4

Losses in the energy sector of Ukraine due to Russian attacks by the end of 2024 exceeded $20 billion, said Energy Club Vice President, who previously headed the State Agency for Energy Efficiency (2021-2023) Valeriy Bezus, referring to the Fourth Rapid Damage and Needs Assessment of Ukraine (RDNA4).

“The fourth assessment report on damage and recovery needs in Ukraine with the support of the World Bank was recently completed. We have done significant work to update the data for this report in the context of the energy sector. According to the assessment team, by the end of 2024, direct, quantifiable losses have almost doubled, reaching more than $20 billion,” Bezus said during the online event “Energy Dialogue: Results of Winter 2024/2025, Recovery Challenges and Development Prospects for Next Winter,” organized by the Energy Club on Friday.

He stressed that the greatest increase in losses occurred in the electric power industry, but also noted that “the damage affects all segments of the energy sector.”

Bezus added that RDNA4 estimates that it will take approximately $70 billion to fully restore the energy sector.

“It is impossible to raise such a sum in months or even years. However, proper recovery planning and prioritisation create the basis for the future sustainability of the sector,” 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 that, 7% was in the energy sector, with energy recovery needs amounting to $47 billion (10% of the estimated total recovery needs of $486 billion).