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Faculty of Economics

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Chernenko, N.

The Russian Electricity Supply Industry: from Reform to Reform?


Abstract: The paper looks at the development of the industry in the post-Soviet Russia, starting from the early 1990s. The main focus is on the last reform 2003-11 and the relationship of cost, prices and investment. In particular, the author examines the new designs for the electricity and capacity markets and their impact on incentives for short-run production and long-term planning and construction. The author defends the pro-competitive approach to the electricity industry reform in Russia and traces the roots of its success and failures.

Keywords: Russian Electricity Industry, RAO EES, reform 2003-11, restructuring, market liberalisation, capacity markets

JEL Codes: L11 L22 L43 L52 L94


EPRG Paper Link: 1319

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