PRESS: Industrial consumers ask to reduce power payments

MOSCOW, Apr 5 (PRIME) -- Russian industrial consumers have asked to reduce payments for electric power, Kommersant business daily reported on Friday citing a letter sent by the Association of Power Consumers to Deputy Prime Minister Dmitry Kozak.

Industrial consumers seek to reduce their payments for electric power and ask to extend the recoupment period of already built nuclear and hydropower plants, as otherwise growth of power tariffs may exceed inflation contrary to the president’s instructions.

“The Association of Power Consumers proposes to limit growth of prices by inflation by extending the supply of capacity by new nuclear and hydropower plants to 40–45 years from 20 years while reducing the yield (10.5% now). The measure will reduce the payment for capacity by 30–40 billion rubles a year (2–2.5% of the final price),” the association said in the letter.

Under the association’s forecast, power prices will grow above inflation: annual average growth will amount to 5.93% in 2019–2023 at inflation of 4%. Maximum growth is expected in 2019 and 2023 at 11% and 7%, respectively.

The Energy Ministry said it will formulate its position after receiving the letter.

(65.3281 rubles – U.S. $1)

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