In 2015, President Vladimir Putin instructed the government to reduce the price of electricity for industrial enterprises of the Far East. Now the average rate in Russia is 3.19 rubles per kilowatt, and in the Far East it ranges from 3.34 to 9.2 rubles.
Recently the Russian parliament adopted a law on the reduction of electricity prices. The new law will come into force on January 1, 2017. It is reported that the biggest drop will occur in Chukotka - 65%, in Yakutia - 50%, in Sakhalin - 46%, in the Magadan region - 34%.
The average in the Far East the tariff reduction will reach 30%. In Primorye, the tariff will decrease by 21%, in the Kamchatka region - 20%, in the Jewish autonomy - 17%, in the Amur Region and Khabarovsk Krai - 5%.
The power system of the republic is closed, and many consumers are trying to optimize the cost of electricity through equipping their production with autonomous energy sources, or entering into the wholesale market, which leads to a further increase in tariff for other consumers. The high costs of electricity hamper the development of all sectors of the economy of Yakutia. Tariff reductions will breathe new life into the development of the Far East and will allow to actively develop the industry, small and medium businesses. So, the investment potential of the region will continue to grow.