CNN Indonesia
Thursday, 05 Oct 2023 11:04 IWST
Russian energy holding company Inter RAO restricted electricity supplies to China on Monday (2/10) due to a dispute over rising electricity prices with the country. Illustration of electricity conditions in China during a drought. (REUTERS/ALY SONG).
Jakarta, CNN Indonesia —
Energy holding company Russia Inter RAO limits supply electricity the China on Monday (2/10) because of a dispute about increasing electricity prices with the country.
The dispute occurred after China rejected the price increase.
InterRAO last week said it would raise electricity prices by 7 percent for customers in several countries to offset the imposition of new export duties that came into effect on October 1.
They will also limit or cut off electricity supplies if customers reject the increase.
According to InterRAO, the affected countries include China, Mongolia, Azerbaijan, as well as the breakaway region of Georgia from South Ossetia.
Reporting from Reuters, China is now the largest market for electricity exports from Russia outside the Eurasian Economic Union, which includes Russia and several other former Soviet countries.
“Discussions with China continue, we are starting partial restrictions from today,” InterRAO told Reuters.
The party also said Mongolia had agreed to the price increase after negotiations.
Russia last month announced the imposition of export duties linked to the ruble exchange rate on a wide range of goods including oil and gas.
The rate will range between 4-7 percent if the ruble weakens by more than 80 per US dollar. The ruble is currently trading at 98.36 per US dollar.
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2023-10-05 04:04:29
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