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30 Nov, 2006 10:51

Russian gas & electricity producers may pay more

Russian gas & electricity producers may pay more

The Energy Minister Viktor Khristenko has outlined plans for price liberalisation in the gas and electricity sector. The prices Russian producers pay will be gradually increased, but will enable producers to remain competitive.

According to the minister, the price for gas and electricity will grow slowly but steadily. In five years time there will be no regulation of power prices on the domestic market.

“By 2011 we will have a 100% liberalised power market and an equal gas price for domestic sales and exports with the exception of logistics and customs duties for exports. However, this new gas price will still provide a competitive advantage for the Russian producers,” Mr Khristenko said.