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The Russian Government is reported to have capped domestic gas prices at 20% and ...

12/12/2002

The Russian Government is reported to have capped domestic gas prices at 20% and power at 13-14% during 1H 2003 in a bid to keep inflation in check. The prices are lower than companies had requested. Gazprom, for example, was pitching for an increase of 40% that would allow it to no longer sell gas at a loss on the domestic market where its gas costs one-fifth of its European export price. Electricity monopoly UES had proposed a 20%-plus increase.

News Item details

Region: Russia & Central Asia

Keywords: Utilities - gas - Government

Subjects: Information technology, Banking, finance and investment, Trading, Policy and Governance, Economics, business and commerce, Transformation [Energy processing] (Conversion), Electricity generation, Domestic, Electricity, Drying / evaporation