The Ministry of Finance is discussing the removal of electricity from the flexible export duty
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The Russian Ministry of Finance received an appeal from Inter RAO (monopoly energy export operator; MOEX: IRAO) about the removal of electricity from the flexible export duty, said Deputy Minister of Finance Alexey Sazanov. According to him, the departments are now considering this appeal taking into account the economic situation and concluded contracts.
Inter RAO representative Alexandra Panina announced her intention to appeal to the government to exclude energy from the list of goods subject to export duties at the end of September. Commenting to RIA Novosti on the Inter RAO initiative, the Deputy Minister of Finance said: “Yes, there is an appeal. It is being considered – we are studying the economics and contracts. We are in the process of exchanging information with the company.”
Flexible export duties on a wide range of goods supplied outside the EAEU began to operate on October 1. They are set at a flexible rate of 4–7% at an exchange rate of 80–95 rubles. per dollar, at an exchange rate of less than 80 rubles. rates are reset to zero. The duty does not apply to oil, gas, grain and timber, as well as a number of other goods. The Ministry of Energy has already stated that it opposes tariffs on electricity.
After the introduction of the flexible duty “Inter RAO” agreed with China on its inclusion in the cost of electricity supplies. As a result, the supply price, according to Kommersant’s calculations, will increase, taking into account the 7% duty, to $47 per 1 MWh, and the load on consumers in the Far East will not increase after this.
Read more in the Kommersant article. “Inter RAO sold duty to China”.
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