SINGAPORE/MOSCOW : China will have to negotiate with Russia on the price and volumes of next year's power supplies following Moscow's decision to hike prices to match an increase in export fees, a senior manager said on Monday.
InterRAO, the Russian state energy group, said earlier this month it had agreed with China that Beijing would pay a higher price for its electricity in line with rising taxes.
Jin Wei, an executive vice president at China's State Grid Corp, said the companies have agreed with the"price adjustment" due to Russia's tax policy. InterRAO last month said it would raise prices by up to 7 per cent for customers in some countries, including China, because of the new duty. It said it would limit, or cut off, supplies if customers refused to accept.
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