It will become easier to implement projects in power industry in Russia

The Russian government has improved the process of investment planning in the power industry.

Government Decree No. 923, dated June 2, 2023, “On Amendments to Certain Acts of the Government of the Russian Federation Concerning the Approval of Investment Programs of Electric Power Industry Entities” was signed.

As a result, the terms for approving investment programs of power industry entities will be reduced, and the number of stages for coordinating projects of investment programs will be reduced. Their coordination is synchronized with the scheme and program for developing electric power systems in Russia.

“Due to the automation of processes and the use of the information system, the quality will increase, and the preparation for the formation, consideration, approval, and analysis of the implementation of investment programs of electric power industry entities will be simplified. The authorities will consider and approve investment programs upon their placement in the information system, according to the principle of the state function. Such a set of measures will make it possible to increase the transparency and justification of investments in the Russian electric power industry,” said Deputy Prime Minister Alexander Novak.