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Vladimir Putin signed the Federal Law Amending the Federal Law On the Electric Utility Sector.
The amendments deal with signing bilateral power purchase agreements for electric power produced by generating facilities located in territories that were not designated as belonging to unregulated and regulated pricing zones within the wholesale market, and consumed by entities launched after July 1, 2017. The price of electric power (tariffs) set forth in such contracts shall not be required to comply with specific caps (upper or lower).
This federal law is expected to help build lasting cooperative links between electric power suppliers and consumers against the backdrop of external pressure from sanctions, while also preventing any detrimental effects in terms of financial and economic resilience for these entities, improving and reviving the investment climate and business activity in Russia’s Far East and Arctic regions.
October 19, 2023