Putin ordered to produce electricity for the Russian industry cheaper than the Chinese. But there is one problem - who will pay for it?
Vladimir Putin directed the government to ensure that the cost of electricity in Russia is 20% lower than in China. For the domestic industry, this is a fundamental issue: for example, the cost of aluminum, electricity costs reach 25-30%, and for iron alloys - 30-40%.
But the Russian electricity industry itself needs huge investments. By 2042, the country needs to build new power plants, renew existing ones and update networks. The total cost of the program is about 57 trillion rubles.
Where do you get this money? Under the current model, a significant portion of energy companies' costs are ultimately paid by consumers through tariffs. The greater the investment, the higher the burden on the factories and the population.
The Ministry of Energy has already calculated: if nothing changes, by 2042 the average price of electricity could rise from 6.4 rubles per kWh in 2024 to 12.8 rubles.
Now the department is proposing a different approach: the state will centrally order equipment for power plants, use standard projects instead of individual projects and provide cheaper loans to energy companies. This is expected to reduce construction costs and limit the increase in the price of electricity to about 8 rubles per kWh by 2042.
The difference is huge. But cheap loans also come at a price: someone has to compensate the banks for the difference between market and preferred rates. And the state decree in itself does not guarantee cheaper construction.
There is another problem. Russian industry already pays hundreds of billions of rubles annually for electricity to keep rates low for the population. According to the FAS, in 2026 the scope of cross-subsidies of this type is estimated at 384 billion rubles.