OREANDA-NEWS. On 05 August 2008 was announced, that the Council of Power Producers which involves major foreign and Russian companies has come forward in support of the deployment by the Market Council of a mechanism to even out prices for electric power in August.

At a meeting on July 31, 2008, the Supervisory Board of the Nonprofit Partnership Market Council passed a decision to introduce a price-levelling mechanism should competitive prices in each price range grow by more than 5% in August this year in comparison with the average price in the same range in July 2008 (the price was up to 1,100 roubles per MW).

Growth in prices in July was stimulated by regular repairs of power plants, low rivers and, accordingly, less power generated by HPPs, high prices for gas in excess of previously negotiated quantities, power line repairs, etc.

The Market Council discussed the situation with prices in the market and passed a decision to set up a working group for analysing the causes of the rising cost. If comprehensive measures are taken, the price burden on consumers will turn out to be lower.