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19 Jun, 2008 04:12

Russia targets 40% energy savings by 2020

Vladimir Putin wants Russia to increase its energy efficiency by at least 40% by the year 2020.

The Russian Prime Minister made the comments after meeting leading figures from Russia’s power sector on Wednesday.

The discussions covered a range of key issues and come at an important time with the state power holding United Energy System being wound up after July 1.  

Putin noted that energy consumption of the Russian economy is over double the world average and believes it could do better. “We could potentially save up to 45% of current energy consumption,” he said.

But rising fuel prices and the need to raise low energy efficiency are driving reforms in the sector. Efficiency is to be improved in state-run sectors of industry first – as an incentive to private enterprise to improve its performance.

And saving measures in the state sector are to be developed, according to Sergey Shmatko, Russia’s Energy Minister. He said that the priority is the fuel and energy sector, which consume a third of all domestic electric power resources.

Putin also called on the industry to make it easier for small business in Russia to get access to the electricity supply.
Currently, the cost of getting connected to the supply can be from 10 to 15% of a small business’ start-up costs – one of the biggest factors in hampering development.