Gas rates to grow by 25% next year - 20 March, 2003

According to preliminary forecasts of the Russian Economy Ministry, the growth in gas rates in 2004 will amount to 25 percent and in electrical energy rates to some 15 percent, Deputy Economy Minister Arkady Dvorkovich told journalists at a briefing in the House of Government today. According to him, these parameters are stipulated in the draft of scenarios of Russia's social and economic development throughout 2006.

Dvorkovich specified that next year gas prices were planned to advance by 15-17 percent above the inflation rate, which was expected to be 8-10 percent. Electrical energy rates will depend on gas prices, so they are to add about 15 percent next year, he specified.

At the same time, the deputy minister admitted that the Economy Ministry had been commissioned to develop further corresponding calculations next week. The final discussion of rates of natural monopolies will take place at a government meeting in May 2003.