MOSCOW, 8 Feb – RIA Novosti. The increase in electricity prices is limited by inflation, the Ministry of Energy said. “Tariffs for electricity for the population in 2020 did not grow higher than inflation. In 2021, the increase in tariffs is also limited by inflation,” the ministry said.
Earlier, Kommersant, citing a review by Market Council (the regulator of energy markets), wrote that wholesale prices for electricity in Russia in 2020 reached their highest values in the last five years, despite the strongest drop in demand in a decade.
“As for the wholesale prices at which our industry buys energy, in 2020 the wholesale price of electricity also grew significantly below inflation, giving the industry an opportunity to recover from the difficult economic situation due to the coronavirus,” the ministry said.
The deputy head of the Ministry of Energy Pavel Snikkars said that wholesale prices do not affect the tariffs for the population in any way – they are fully regulated by the state.