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13.09.2011 12:59Russia to Delay Power Hikes until Mid-2012
Putin said the regulated prices would rise by 15 percent for Gazprom, and in line with inflation, seen at 6 percent this year, for Russian Railways, FSK and regional grid companies
© World Economic Forum@flickr.com
Russia will delay planned annual gas and power price increases until next summer, Prime Minister Vladimir Putin said on Monday, a move that could spare voters any significant household bill hikes until after a March presidential election.
Putin, who was president between 2000 and 2008 and has hinted he may run again in the 2012 vote, said the price hikes would be permanently put back to July 1, 2012, from January 1, Reuters reported.
"Bearing in mind that during that time energy and electricity consumption declines, the transition to higher tariff for consumers would be much milder than in January," he told the government's budgetary committee.
Regular tariff hikes at the start of the year by monopolies such as gas giant Gazprom , railway monopoly Russian Railways and the Federal Grid Company FSK antagonize the population and stoke inflation.
Putin said the regulated prices would rise by 15 percent for Gazprom, and in line with inflation, seen at 6 percent this year, for Russian Railways, FSK and regional grid companies.
Russian Railways will also receive 40 billion roubles (USD 1.3 billion) from the federal budget at the end of 2011.
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