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The reform and prospects for the development of the Russian power industry

Vol. 12, Iss. 29, AUGUST 2014

Available online: 5 August 2014


JEL Classification: 

Pages: 11-17

Musaev R.A. Lomonosov Moscow State University, Moscow, Russian Federation

Chernysh Y.V. Lomonosov Moscow State University, Moscow, Russian Federation

The purpose of the study is to identify the characteristics of the operation and regulation of the electric power industry in the current stage of development of the economy of Russia, as well as the development of measures of public influence to improve the efficiency of the electric power industry and the economy of the Russian Federation as a whole. The energy complex is the object of study. The State policy regulating the electricity industry is the subject of the research. The fundamental conclusions of the concept and the views expressed in the writings of Russian researchers on the development of the electric power industry are the methodological and theoretical basis of the study submitted. The common methods of scientific research, such as observation, formalization, comparison and synthesis, as well as the methods of system and statistical analysis of scientific abstraction and graphical methods for data reporting were the methodological framework of the study. We have analyzed the differences between the views that inspired the Reformation, and the current situation in the industry. So we are submitting new approaches to the management of the electricity market and industry regulatory mechanisms to ensure macroeconomic and social stability in Russia. Basic steps for reforming the electricity sector have been completed. However, none of the objectives of the reform had been achieved. There is no increase of the efficiency and innovation activity of enterprises, and so far there is no effective competition at both the wholesale and retail market, and electricity prices for consumers in some cases exceed the world standards. In our opinion, in the first place, there is a need to increase the transparency of the activities of the network complex, and secondly, there is a need to solve problems in the retail system, including the problem of non-payment. In the wholesale market, it is necessary to cancel the mechanisms for concluding contracts for granting and competitive selection of power. We came to the conclusion that a key problem of the Russian power industry is the low efficiency of State regulation. The error is that the more liberal the economy becomes, the stronger the regulators it needs.

Keywords: electric power industry, public regulation, tariff, investment, privatization


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