Gazprom’s Power Unit Bears Brunt of Electricity Tariff Freeze
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OAO Gazprom, the world’s biggest natural-gas producer, said profits from its power division will be hurt by the government’s decision to hold off from raising electricity tariffs in the run-up to elections.
“The year is difficult because it coincided with the electoral cycle and decisions to limit tariff growth were taken, which hit all our companies quite badly,” Denis Fedorov, the head of Gazprom’s power division, told reporters today.