Russian electric power industry reform: 10 years later

Abstract

The article presents the main results of the reform of the Russian electric power industry — the reorganization of RAO UES of Russia. Over the past 10 years since the reform, it has become clear that its main goals have been achieved. The monopoly branch, controlled by the state, has turned into a market one based on competition and private property. The necessary structural changes were made in the industry; a system of markets was created; large-scale investments were launched. All this led to a sharp increase in capacity inputs in Russia’s electric power industry. As a result of the reform, the price of electricity for the population, taking into account the PPP, that is, the real standard of living in Russia, and for the majority of industrial consumers is lower than in the leading foreign countries. It has become possible to improve the reliability of the power system and preserve its technological integrity. Proposals for further improvement of the Russian electric power industry are formulated.