Formation of the Price Mechanism for Energy Resources in Russia and the Countries of the European Union

Olga Ergunova, Vladislav Lizunkov, Viktor Blaginin, Ekaterina Politsinskaya and Olga I. Shaykina
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Olga Ergunova: Department of Foreign Economic Activity, Ural State Economic University, Yekaterinburg, Russian Federation,
Vladislav Lizunkov: Yurga Institute of Technology of National Research Tomsk Polytechnic University, Yurga, Russian Federation,
Viktor Blaginin: Department of Regional, Municipal Economy, Ural State Economic University, Yekaterinburg, Russian Federation,
Ekaterina Politsinskaya: Yurga Institute of Technology of National Research Tomsk Polytechnic University, Yurga, Russian Federation
Olga I. Shaykina: National Research Tomsk Polytechnic University, Tomsk, Russian Federation.

International Journal of Energy Economics and Policy, 2018, vol. 8, issue 1, 122-127

Abstract: The current research focuses on the solution to the challenge of finding balance in different energy resources pricing trends. Our research shows that increase in gas price leads to corresponding growth in electricity cost, but the effect of replacement has not occurred yet. The burden on population is growing as cross-subsidization is gradually being canceled in order to increase the production competitiveness. It has been found out that households in Russia pay less nowadays than in the USSR, less than Europeans for gasoline, electricity and diesel at present. If we bring the cost of electricity in proportion to the corresponding level of the Soviet time, it will cost about 0.1825 per kWh, which quite corresponds to European prices and newly confirms the validity of the author's calculations. Two theoretically possible directions for the development of Russian energy system based on innovations in energy consumption and production have been defined.

Keywords: European Union; Energetics; Price; Energy Supplies; Competitiveness of Production; Direction of Development (search for similar items in EconPapers)
JEL-codes: C62 N70 O13 P48 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2018-01-15

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