Russia

Russia

Russia postpones $3 billion renewables decision

RUSSIA: Russian prime minister Dmitry Medvedev has postponed approval of the legislation supporting the $3 billion development of the country's renewables programme.

Russian prime minister Dmitry Medvedev
Russian prime minister Dmitry Medvedev

The draft document for the support of wind energy in Russia was approved by the Russian government in November 2012. Under the proposals, all wind energy projects would be given a power purchase agreement.

According to Medvedev's order, the final decision will be taken based on the results of additional calculations of the costs associated with the development of renewables, and in particular wind power, in Russia until 2020.

These calculations will be carried out by experts from the Russian energy ministry, which will have to submit a report for the prime minister's consideration by 1 June.

The decision came as president Putin laid out a warning via twitter about any increase in utility bills. He said: "A sharp increase in the utility rates is inadmissible; the average annual increase must not exceed 6%."

The bid to alter Russia's reliance on oil and gas has angered various trade bodies and associations representing local producers and consumers of electric power.

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