Energy crisis in Russia: Utility prices skyrocket

According to Ukraine's Foreign Intelligence Service, Russian authorities have postponed the modernisation of 14 thermal power plants until 2028. Against this backdrop, an energy crisis has erupted in the country.

According to the Foreign Intelligence Service (FIS), both modernisation and refurbishment of thermal power plants have been delayed due to setbacks in the delivery of critical equipment and budget cuts.

In particular, key production capacities controlled by major companies such as Inter RAO and Unipro will go without upgrades.

The intelligence service notes that the priority for supplying equipment will be given to power plants in regions expected to experience the most severe shortages, notably in the Rostov region.

“The reduction in available generating capacity has led to higher prices on the Russian electricity market and across the entire housing and communal services sector. This year, utility tariffs in Russia are expected to increase by an average of 11.9%,” the FIS highlighted.

At the same time, the new modernisation deadlines create risks for the reliability of electricity supply in several key industrial regions, including the Orenburg, Kostroma, Tyumen regions, as well as the Republic of Bashkortostan.

(MH with AmBar - Source: X - Photo: © Unsplash)