The Russian electricity market will be fully liberalised by 2007, according to reported comments from Vasiliy Zubakin, deputy chief executive of Russia’s Federal Grid Company.

UES restructuring moves are largely anticipated to be completed by the end of 2006 following the completion this year of most power sector reforms that will allow newly established companies to operate in a competitive market in 2006.

Zubakin, also a UES executive board member, is quoted as saying “2005 will become the year of the reform tide. It will be a turning point for reform. From 2006, we will have a new mechanism and new working conditions. By the end of 2006, we will possibly see the unbundling of UES. In 2007 we will have full deregulation and liberalisation of Russian power markets.”