Home  Journals  National Interests: Priorities and Security  4(457) - 2026 April

Particularities of the functioning of PAO Inter RAO in new economic conditions

Received: 30 December 2025

Accepted: 25 February 2026

Available online: 29 April 2026

Subject Heading: ENERGY SECURITY

JEL Classification: F02, F15

Pages: 184-202

Subject. This article discusses the impact of changing conditions in the external and internal environment on the financial and economic performance of PAO Inter RAO in 2020–2024.
Objectives. The study aims to analyze the features of the operation of Russia's largest energy company, PAO Inter RAO, in the context of economic transformation.
Methods. For the study, we used the methods of horizontal and vertical analyses, comparative analysis, and ratio analysis of the company's indicators.
Results. The article reveals that despite the introduction of extensive economic restrictions since 2022, PAO Inter RAO demonstrates a high degree of resilience.
Conclusions. The combination of changes in revenue structure, investment and dividend policy, as well as liquidity management, forms a sustainable adaptive trajectory under conditions of external shocks and increasing geoeconomic pressure

Keywords: fuel and energy complex, economic constraints, energy security, financial stability, electric power industry

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