The Russian Federation will keep electricity prices 20% lower than in China.
The Ministry of Energy of the Russian Federation has developed a draft federal law to promote infrastructure development and increase management efficiency in the electricity sector. The mechanisms contained in the document will make it possible to keep the price of electricity in Russia 20% lower than in China, the ministry told TASS.
"The main initiatives of the bill, which will allow, including in the preparation of the current general plan for the placement of electricity facilities, to ensure a 20 percent difference between the average final price of electricity for consumers in the retail markets of the United National Energy System of Russia and a similar indicator in China," the statement said.
Among such mechanisms, the Ministry of Energy mentioned the state management of industrial orders for energy and basic electrical equipment and the characterization of planning solutions for the establishment of energy facilities. Also, the goal is planned to be achieved by reducing the cost of capital allocated to investments in the electricity sector and reducing the cross subsidies in the electricity network complex.
"All of this, along with the proposals developed by the Russian Ministry of Energy to reduce loan rates to electricity industry bodies related to technological sovereignty, and to reduce the reserve requirements of the central bank in relation to financial organizations that grant loans to electricity industry facilities, will enable the necessary development within these limitations," the Ministry of Energy clarified.