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Report Title
Electricity in Russia
Report Subtitle
Country profile of power sector, market trends and investment
opportunities
Report Code
Publication Date
March 2014
Report Type
Energy
Report Size
Pages
43
Tables
14
Figures
14
Contact
PennEnergy Research ([email protected])
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Page Lead Graphic and Quote
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Figure 2.2
Russia, installed capacity by type
(MW), 2012
Installed capacity (MW)
Nuclear power
Hydropower
Thermal power
0
50,000
100,000
150,000
Russia, installed capacity by type (MW)
200,000
A broad breakdown of installed capacity by
type is presented in Table 3. This shows the
thermal power plant capacity to be
151,708MW. There was in addition 46,851MW
of hydropower, and 24,541MW of nuclear
power. Thermal capacity in Russia is a
mixture of coal and gas-fired generation, and
many of the thermal plants also provide district
heating. Meanwhile gas-fired power plants
provide most of the thermal plant output. The
majority of the country’s hydropower plants are
all operated by RusHydro, which has over 70
‘renewable energy source facilities’ according
to its website (most of which are likely to be
hydropower plants), and a total installed
capacity of 37,500MW. Nuclear plants are
operated by Rosatom. The nuclear company
has ten power stations, and a total of 33
nuclear reactors in operation.
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Introduction,
market background and USPs
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Russia is the largest country in the world, but with only the tenth largest population. It is also one of the most richly endowed
with fossil fuel resources including oil, natural gas, and coal. The country produces large volumes of both natural gas and oil
for export, but is the third largest user of natural gas in the world, and it has a very high energy intensity, three times the
typical level of the developed world. The electricity sector in Russia is characterized by an ageing thermal power plant fleet,
high subsidy levels, and low tariffs, which make it difficult for private sector companies to operate competitively. A major
sector reorganization, during the last decade, was supposed to usher in a fully open market for electricity. While some of
these reforms have been successful, others remain incomplete, and the sector has been described as a ‘regulated’ free
market . The country needs to replace up to 100GW of thermal capacity by the end of the decade, as well as building new
capacity to meet growing demand. The transmission system needs expanding too, with large regions still not served by the
Unified Grid. However foreign private sector investment in the industry has been limited, with both the political, and the
investment conditions - making investors wary. This means that without significant change most investment will have to
come from within Russia. Attempts are underway to increase tariffs to reflect market costs, but this reform could take the rest
of the decade to complete. There are significant opportunities in Russia, but these are currently tempered by both the
financial limitations, and a perceived lack of transparency.
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Key
features of this report
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• An overview of the electricity market in Russia.
• Power supply data covering production, imports and exports and the main production sources.
• Power demand data by market sector and tariff data.
• An overview of the structure of the electricity sector with government and private sector companies
as well as the regulatory status.
• Power demand forecasts and the development of the power sector to meet expected growth.
• Transmission system expansion plans.
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Key
benefits from reading this report
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• What are the key energy resources in Russia for power production.
• What steps is the country taking to maintain future security of supply?
• What are the key developments in electricity infrastructure?
• Who are the key players in market?
• What are the investment opportunities in the country?
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Key
Market Issues
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This report is a Country Profile, covering:•
•
•
•
•
•
Power generation capacity by fuel input
Electricity networks
Current power market trends
Generation growth
Investment opportunities
Future project plans
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Key
findings of this report
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1.
Proven oil reserves in Russia were 80bn barrels (bbl) at the beginning of 2013, the eighth
largest in the world.
2.
Russia is home to the largest reserves of natural gas in the world. Reserves in 2013 were
estimated to be 47,800bn m3, or around one quarter of the global proven reserves.
3.
Gross theoretical hydropower capacity in the Russian Federation was put at 2,295TWh/y
by the World Energy Council, while the economically exploitable capability was estimated
to be 852TWh/y.
4.
The electricity system in Russia includes 700 power plants with capacities of over 5MW.
5.
The transmission and distribution system in Russia is fragmented. According to the
Russian Energy Forecasting Agency, it comprises 69 regional energy systems, which are
formed into seven integrated energy systems.
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Key
questions answered by this report
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1.
How does Russia generate its electricity?
2.
What is the status of the national electricity market?
3.
What are the key developments in electricity infrastructure?
4.
Who are the key players in market?
5.
What are the future prospects for investment in Russia?
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Key
areas covered by the report
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Key products/categories profiled:
Energy
Electricity in Russia – Country profile of power sector, market trends and investment
opportunities
Key regions/countries covered:
Russia
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Research
methodology
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Methodology:
Secondary research
This has been conducted by Paul Breeze – an energy specialist for 30 years. He has gathered
together an unique set of studies and research papers. In all, the report cites up to 20 separate
sources.
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10: Author biography and contact details
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Name: Dr Paul Breeze
Biography:
Dr Paul Breeze has specialized in the electricity sector for the past 30 years. He is
contributing editor for the monthly international magazine for the power industry,
Modern Power Systems, and as freelance writer he has contributed to The Financial
Times, The Guardian, The Daily Telegraph, The Observer and The Economist. In
addition to the power sector, Paul Breeze’s interests include science and the computer
industry.