PRESS: End of power exports to Lithuania to raise Russian prices

MOSCOW, Jan 19 (PRIME) -- The cessation of Russian electric power exports to Lithuania will raise the prices for industrial consumers in the European part of Russia and in Urals slightly, business daily Kommersant reported Thursday, citing sources.

"Electric power exporter Inter RAO will stop paying for 900 megawatts of capacity of own new thermal power plants in Kaliningrad, which are reimbursed from the non-market payments by all consumers. The burden on the industry will grow by 70 million rubles per year," the paper said.

The exports stopped on May 22, 2022, but Inter RAO continued to pay for the capacity, because the payments were planned for 12 months ahead. The company wants to recalculate the payment, based on exports for the last six months. The issue will be considered by market regulator Sovet Rynka (Market Council) on January 23.

(68.8728 rubles – U.S. $1)

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