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OECD Economic Surveys: Russian Federation 2004

image of OECD Economic Surveys: Russian Federation 2004

In this comprehensive 2004 overview of the Russian economy, OECD carefully analyses this heavily resources-dependent economy and its vulnerabilities.  It recommends a comprehensive program of fiscal prudence and structural reform, particularly involving large state institutions. Separate chapters examine industrial competitiveness, the natural gas sector, the electricity sector, and banking reform.

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Power Sector Restructuring

In 2003, after many years of debate, Russia embarked on the restructuring of its electricity sector, launching one of the most far-reaching and technically complex reforms of the post-Soviet era. This will involve the corporate restructuring of the country’s massive electricity monopolist, RAO UES, and the implementation of legislation that will provide the framework for the creation of markets in electricity generation and supply and for a revamped set of regulatory arrangements for transmission and distribution. This chapter provides an assessment of the reform plans as they now stand and raises a number of issues that will need to be addressed as the reform is implemented. The discussion begins with an ...

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