Russia’s only electricity export operator, Inter RAO, has begun limiting electricity supplies to China because Beijing refuses to pay extra for imports.
Writes about this RBC.
It is noted that Inter RAO previously warned China, Mongolia and Azerbaijan about the increase in the cost of electricity supplies. Ulaanbaatar agreed to new conditions, Beijing has not yet.
According to a representative of the Russian company, negotiations with China are still ongoing.
Earlier it was reported that Inter RAO offered its counterparties from outside the EAEU countries to increase prices by 7% against the backdrop of the introduction of export duties – the so-called “tax on the fall of the ruble”
“This is vitally important for us, because our delivery profitability, as a rule, is below 7%. In China, this value is 5%. With a profitability of 5%, we cannot afford to pay a 7 percent duty. The profitability of our supplies to Mongolia, so the situation here is even more acute,” stated the company’s management.
The company added that it warned China, Mongolia and Azerbaijan about price increases from the beginning of October, and allowed supplies to these countries to be limited or stopped if the new price was rejected.
According to the resolution of the Cabinet of Ministers of the Russian Federation, export duties on goods supplied outside the EAEU are set at 4-7% at an exchange rate of 80-95 rubles per dollar; at an exchange rate of less than 80 rubles, the rate will be zero. The duties are valid from October 1, 2023 to December 31, 2024.
Economic truth
2023-10-02 15:17:36
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