Interfax: Medvedev calls agreements on electricity shipments to Ukraine and Crimea mutually beneficial

Electrical Yard file photo

GORKI. Jan 20 (Interfax) – Agreements to ship electricity to Crimea and Ukraine are beneficial to both parties, Russian Prime Minister Dmitry Medvedev said at a meeting with Energy Minister Alexander Novak and Gazprom (MOEX: GAZP) CEO Alexei Miller.

He also said that work must continue in this area.

“I think that this is a form of support, in this case to both the Ukrainian economy and the Ukrainian energy system, but we also really need this in order to provide reliable electricity to the Crimean Federal District. That is why it’s necessary to continue such work,” Medvedev said.

He also drew attention to the fact that Russia ships electricity to Ukraine based on Russian rates.

Novak said that contracts were signed at the end of last year for shipments of electricity from Russia to Ukraine and from Ukraine to Crimea.

“These agreements are currently being carried out. Russia has been providing up to 1,500 MW at lowered prices per Ukraine’s requests depending on Ukraine’s need. This is also another one of Russia’s contributions to supporting the economy of Ukraine,” the energy minister said.

Novak added that this agreement has been signed for one year in order to provide reliable electricity supplies to consumers in Crimea and Ukraine.

[featured image is file photo]