Inter RAO and China agreed to increase the price of electricity supplies
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“Inter RAO” agreed with China to include a duty in the cost of electricity exports, said Alexandra Panina, a representative of the Russian electricity export operator. Previously was supposedthat energy consumers in the Far East will pay for the new duty.
“We agreed with China. China increases the price under our contract by the amount of duty. China will pay for this duty,” said Ms. Panina on the sidelines of Russian Energy Week.
We are talking about a price increase of 7%. This will not change the operator’s profitability; the money will go to the budget. Mrs. Panina noted that “nothing will change in terms of profitability, nothing will change for consumers in the Far East.”
Inter RAO previously proposed increasing the profitability of its electricity supplies to China by the actual amount of the new export duty, which would reduce subsidies for consumers in the Eastern energy system. Until 2022, the export profitability was 30%, but in 2023 it decreased due to an increase in tariffs in the region at which Inter RAO purchases energy for export. The duty from October 1 is 7%, which makes the supply unprofitable for Inter RAO.
Read more about the problem in the Kommersant article. “The Far East faces a Chinese tariff”.
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