Inter RAO, China agree to raise power exports price 7% from Oct 1

MOSCOW, Oct 12 (PRIME) -- Russian power holding Inter RAO has agreed with China to include an export duty of 7% on exported electrical power into the price starting from October 1, representative of the company Alexandra Panina told reporters on Thursday.

“We have agreed with China. China will raise the price under our contract by the size of the export duty from October 1,” she said on the sideline of the Russian Energy Week.

Panina added that the money from power exports will be sent to the budget and the adjustment will not change Inter RAO’s performance.

“Nothing will change both for Inter RAO in performance terms, and for the Far East’s consumers… But the Russian budget will get additional funds from higher payments by the Chinese side,” she said.

Power exports to China will be limited to 120 megawatt (MW) until October 22 due to maintenance at a high voltage line, Panina added.

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