UPDATE: Russia to spend 250 bln rbl on power grid upgrade till ‘24

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MOSCOW, Apr 5 (PRIME) -- Upgrade of Russia’s key electric power grids will require at least 250 billion rubles of investment until 2024, Energy Minister Alexander Novak said at a meeting of the ministry on Friday.

“In general, we plan to spend at least 250 billion rubles on fulfillment of an all-encompassing plan of power grids’ development by 2024 to ensure the launch of more than 6,000 kilometers of electric power grids, more than 3,500 mega volt-ampere boosters,” Novak said.

Energy consumption is to rise 6% until the end of 2024, as compared with 2018, he said.

Economic Development Minister Maxim Oreshkin said that the ministry supports an Energy Ministry’s proposal to introduce payments for unused power grid capacity gradually.

“We will support the measures concerning introduction of payments for unused capacity reserves, we will support a more efficient use of the resources which exist in the electric grids at large,” Oreshkin said.

The Energy Ministry earlier suggested charging for unused or partially used power grid or subcenter capacity reserves from 2020 and to start full payment for them by 2024.

Oreshkin said that the power grid equipment in Russia is loaded by only 30–35% because existing regulation leads to higher operators’ and consumers’ costs.

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