Financial Stability and Prospects for the Development of Electricity Companies of the Russian Federation under Economic Uncertainty

Oksana V. Savchina (), Dmitriy A. Pavlinov (), Olga V. Savchina (), Ahmad S. Al Humssi () and Vladyslava I. Noga ()
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Oksana V. Savchina: Department of Finance, Accounting and Audit, Faculty of Economics, Peoples' Friendship University of Russia named after Patrice Lumumba, Moscow, Russian Federation
Dmitriy A. Pavlinov: Department of Finance, Accounting and Audit, Faculty of Economics, Peoples' Friendship University of Russia named after Patrice Lumumba, Moscow, Russian Federation
Olga V. Savchina: Department of Finance, Accounting and Audit, Faculty of Economics, Peoples' Friendship University of Russia named after Patrice Lumumba, Moscow, Russian Federation
Ahmad S. Al Humssi: Department of Finance, Accounting and Audit, Faculty of Economics, Peoples' Friendship University of Russia named after Patrice Lumumba, Moscow, Russian Federation; & Department of Industry Markets, Faculty of Economics and Business, Financial University under the Government of the Russian Federation, Moscow, Russian Federation
Vladyslava I. Noga: Department of Marketing, Faculty of Economics, Peoples' Friendship University of Russia named after Patrice Lumumba, Moscow, Russian Federation

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 5, 327-335

Abstract: The electricity sector plays an important role in a country's economy due to its cross-sectoral importance. Economically, the industry is less vulnerable during the times of the economic uncertainty, as it is largely state supported. Electricity consumption and electricity generation have grown steadily over 1990-2023, with China, USA, India, Russia, Japan, Brazil, Canada, South Korea, Germany and France being the world market leaders. This article analyzes the current state and the main development trends of the electricity industry of the Russian Federation, as well as the financial stability of its companies. The analysis of the financial stability of PJSC Inter RAO and PJSC Rushydro, two electricity generating giants in the Russian Federation, has shown that they both remain financially healthy, however the increase of debt and the decrease of liquidity in the past five years have been of harm. Overall, electricity companies should not suffer much from the current economic uncertainty, as forecasts of the level of revenue show that Inter RAO should witness a 23.2% and 3.2% increase in 2025-2026, while Rushydro will have stable revenue levels by the end of 2026.

Keywords: Energy Sector; Electricity Industry; Economic and Financial Crisis; Economic Uncertainty; Low-carbon Economy; Financial Stability (search for similar items in EconPapers)
Date: 2025
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DOI: 10.32479/ijeep.20708

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