RAO UES To Insist On Rise In Prices For Electricity

In the event the Federal Energy Commission approves an increase in prices for gas, RAO UES of Russia (the Russian national energy grid) will insist on an immediate increase in prices for electricity at power stations that use natural gas. Anatoly Chubais, RAO UES head, announced this at a meeting with journalists today, commenting on Gazprom's initiative to increase gas tariffs by 20 per cent. Chubais stressed that an increase in electricity tariffs will be slower than an increase in gas prices. He also recalled that according to the 2002 budget draft, tariffs for electricity will increase 30-32 per cent during the year 2001.