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.

Russia Must Invest $2.5 Trillion in Electric Utilities Over Next 20 Years

Russia's draft energy strategy calls for about $2.5 trillion in investment through 2035, Energy Minister Alexander Novak was quoted by news agency RIA Novosti as saying Wednesday.

Russia's electricity production will increase 28-30 percent over that time as consumption grows 15 percent, news agency Interfax cited Novak as saying.

Electricity exports will also increase significantly thanks to coal mining and the production of electricity from coal, he said.

U.S. and EU sanctions against Russia over the crisis in Ukraine are factored into both scenarios included in the strategy, Novak added.

The draft energy strategy was reviewed at a meeting Wednesday with Prime Minister Dmitry Medvedev. The government plans to review a final version this autumn.

… 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