Business “RusHydro” is divided into two parts

Deputy Head of the Federal Antimonopoly Service Vitaly Korolev announced the plans of the Ministry of Energy and the Ministry of Economy to divide the RusHydro energy holding into two parts depending on the types of activity: generation and networks.

“Factors for the development of competition, of course, will be the division of competition by type of activity in the respective territories. We understand that this will take some time. It is obvious that a company like RusHydro cannot be taken and divided at once. Nevertheless, such processes will take place,” said Mr. Korolev, speaking at the Russian Energy Conference organized by Vedomosti.

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At this stage, agencies are developing a timetable for how the statutory restriction will be respected. This concerns the requirement to prohibit the combination of activities (in particular, electricity generation and power grid activities). The plan will be sent to the government in May.

At the end of 2022, the Ministry of Energy announced that in November 2023, the liberalization of non-price zones of electricity and capacity, which include the Far East, the Arkhangelsk region and Komi, could begin. To launch a price zone in the Far East, it is necessary to fulfill the requirement to ban the combination of activities, RusHydro told RBC.

The main assets of RusHydro are located in the Far East. The company unites 60 hydroelectric power plants, as well as thermal power plants and power grid assets in the Far East.

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