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Domestic Market of Energy Resources: Current State and Future Prospects

Domestic Market of Energy Resources: Current State and Future Prospects

The new government with Vladimir Putin at the helm has proved unprepared for the liquidation of RAO UES of Russia. It turns out, as the assets of the holding company have been distributed, that there is no scheme for regulating the industry. Furthermore, the very concept of the operation of the power industry is currently a heap of controversies resulting from years of bureaucratic procedures and unceasing political compromises.

The government has found itself pressed for time on the threshold of the upcoming heating season and the need for building a new regulatory system virtually from scratch and on the fly. All this coincides with rapid growth in gas prices and the liberalisation of the electric power market. The probability of deficit of these resources in the national economy in the near future adds to that.

The Report offers an in-depth discussion of the following subjects

  • Power industry without RAO UES

    • Interim industry reform outcomes
    • Sale of generation and its beneficiaries
    • System faults and the outcomes of the redistribution of assets
  • New system of government regulation in the industry

    • Those in charge of the power industry
    • The role of the Energy Ministry
  • System of pricing for gas and electricity

    • Exchange trade
    • Long-term contracts
    • Gas supply and demand issues
    • Fuel market and difficulties providing power plants with energy resources
    • Programme for positioning power industry facilities
  • Gazprom strategy in the power industry

    • Integration of assets having been acquired and failure of the SUEK takeover deal
  • A medium-term forecast of developments

The contents of the report:

Introduction 2
Chapter 1. Power Industry without RAO UES of Russia 3
1.1. New Reality in Power Industry 3
1.2. System of Control over Gazprom: Interchanging the Interchangeable and the Sechin Factor 8
Chapter 2. Gas Supply in Russia in View of Growing Consumption: Challenges and Risks 13
2.1. Gas Deficit and Gas Balance to 2020 14
2.2. Monopoly’s Investment «Bubble» and Financial Crisis 20
2.3. Priority to Domestic Supplies 28
Chapter 3. Demand and Pricing for Gas and Electricity. Problems of Exchange Trade in Gas 32
3.1. Programme for Placing Power Industry Facilities; «Political Forecasting» of Demand for Gas and Electricity 32
3.2. Long-term Contracts with Gazprom. Liberalisation of Gas and Electricity Prices 35
3.3. Experiment with Sale of Gas on Electronic Floor. Prospects for Gas Exchange in St Petersburg 39
Chapter 4. Gazprom Strategy in Power Industry. Integration of Assets Having Been Acquired and Failure of SUEK Takeover Deal 42
Chapter 5. Key Conclusions and Forecasts 49
Date of issue December 1, 2008

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

Sanctions against Russian Oil and Gas: Pressure Continued
Arctic: Soviet-type Gigantomania or Breakthrough Project?
State regulation of the oil and gas sector in 2018, prospects for 2019
Gazprom on Path to New Reality
Looking for Best Tax Treatment of Oil and Gas: Fiscal Experiments Continued
The subject of taxation became the absolute hit of 2018. The government once again decided to rewrite the rules of the game. President Putin’s new inauguration decree served as the main pretext. It turned out that about 8 trillion roubles extra was necessary for the new national projects announced. The Cabinet did not take long to decide where the funds should be taken. The result was acceleration of the so-called tax manoeuvre started as far back as 1 January 2015. It suggested shifting the tax burden to the wellhead: the effect on the state budget of gradual abandonment of the export duty will be more than compensated for by quicker growth in mineral resources extraction tax (MRET). The laws on tax reform have already gone through the parliament and will take effect as of next year. This means nothing good for companies.

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07

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