Peretok Light: highlights of the Russian and global power sectors for 13 to 19 August

Peretok Light: highlights of the Russian and global power sectors for 13 to 19 August

Источник: Lisa-Lisa/Shutterstock.com

Minenergo published a draft Cabinet resolution introducing grid capacity charge

Last week Minenergo fairly suddenly published a draft government decree to introduce a grid capacity charge. The measure has long been discussed by regulators; the primary purpose of the charge is to force consumers to relinquish surplus grid capacity and cut investment in unused infrastructure. The innovation is expected to affect not only consumers that do not use the grid to the capacity claimed but also distributed generation. By 2022, the charge for unused grid capacity will have been phased up to 20% of its cost.

North Caucasus debts can be here to stay

As part of the government's anti-default effort for the North Caucasus, Rosseti, which also serves as a disco in the region, has been tasked with restructuring the outstanding debt. This is an important issue for the entire energy market: the NCFD republics account for 65% of all EPCWM debts. TOs invited gencos to agree to debt rescheduling to 2053 inclusive; the generators say that they don't expect to live so long and suggest, at a minimum, substituting the parent group as the debtor for the financially insolvent subsidiaries. 

Rosseti want to take control over FGC back from government

The long-lasting struggle between Rosseti and FSK [Federal Grid Company (FGC)] for dominance of grid infrastructure has escalated to a new level. The company of Pavel Livinsky proposed striking FGC off the register of the government companies following government directives. If the proposal is accepted, recommendations binding upon FGC will be handed down by Rosseti rather than by Cabinet. 

Deripaska says he is willing to reduce his interest in En+ to below 45% by divesting stock to VTB

Energetic efforts were made by Russian businessmen last week to reduce the impact of the sanctions imposed on them and their companies by the USDT. The restrictions and bans were introduced 6 April; since then Oleg Deripaska and Viktor Vekselberg have been looking for ways to be taken off the black list, the SDN list, and trying to minimize their future losses.  

En+ planning to move energy assets from Cyprus jurisdiction to «Russian offshore»


Renova reduces interest in Hevel from 51% to 46%


Minenergo sets modernization CAPEX caps

As part of the national cogeneration modernization programme, Minenergo continues formulating and adjusting its key parameters. Last week saw a report on CAPEX caps for investment project selection: 54 and 33 thou. roubles per kW for coal- and gas-burning TPSs respectively. Total consumer bills by 2035, which are to be used to recoup power providers' investments, can increase from 1.35 to 2.13 trln roubles (in the 2021 prices). 

EDM proposes increasing utility tariffs by 1.7% and 2.4% as of 1 January and 1 July 2019 respectively

One of the week's main topics in the sector is the question of synchronizing the VAT hike from 18% to 20% as of 1 January and the indexation of utility tariffs as of 1 July. In the end, the government resolved to implement the increase in utility tariffs in 2019 in two stages.  

Putin orders a study into extending the Far-Eastern surcharge, to be completed by 10 September

Another concern for the energy market has been put off until September. Most industry insiders, including some civil servants, oppose the proposals by vice prime minister Yury Trutnev to extend the alignment of electricity tariffs in the Far East by 10 years. The opponents of the initiative argue that, first of all, the gains from this measure for the regional economies are unsubstantiated, whereas the load on the EPCWM consumers outside the Far East is significant.  


20-08-2018 16:29

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