Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

FAS Warns Electricity Wholesalers

ST. PETERSBURG — Head of the Federal Anti-Monopoly Service Igor Artemyev said Wednesday that power companies are engaging in abusive practices that could drive up electricity prices.

"I can list the companies that are buying not through producers, but through middlemen, for example Kamchatskenergo, OGK-6, the Kirishskaya electric plant, Kashirskaya electric plant, the Omsk branch of TGK-11, the Far East Generating Company, Mosenergo, which is interesting, and so on," Artemyev said in St. Petersburg at a meeting with Prime Minister Vladimir Putin devoted to fuel and energy.

"We have to watch them, because this will result in higher prices for consumers," Artemyev said. Tough measures have to be taken against wholesale price manipulation on the power market, he continued.

"We have encountered things like price manipulation on the wholesale market, and we are opening about 10 cases," he said. There is "elementary fraud" on the wholesale electrical power market, and it is forcing prices up, he said.

"We believe we are fully capable of putting a stop to this, but the punishment has to be simply crazy, simply enormous," Artemyev said.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more