Putin urged to liberalise Russian energy

Anatoly Chubais, the head of Russia’s electricity monopoly, has called on Vladimir Putin, Russia’s president, to back the liberalisation of the cash-starved power sector, including the sale of generation companies to foreign investors.

Mr Chubais said the reform of Russia’s electricity industry was essential if it was to overcome a looming energy crisis. Russia’s coldest winter in 30 years has exposed an acute shortage of generating capacity.

“The system physically cannot cope with growing demand. Even if we invest today we are not going to see the result for the next three years,” he said.

Financial Times