Influence Of The Pricing Policy In The Russian
Power Industry On The Gross Domestic Product
(GDP) Dynamics
Author(s)
I. A. Korolev, L. D. Khabatchev & V. M. Makarov
Abstract
Results of implementing any pricing policy in the Russian power industry have a
direct effect on the economic effectiveness of all sectors of the national economy
due to the use of electric power for any activity or manufacture of any product.
Intersectoral relations existing in the economy intensify and multiply the
influence of the price factor in the power industry: price changes have an impact
on the expenses of sectors both directly and indirectly. For example, the
purchase cost of raw materials produced by energy-intensive sectors greatly
influences the manufacturing cost of their own products. Since the amount of the
gross domestic product (GDP) (the constituents of which are salary fund, taxes,
the gross profit of sectors of the national economy) is an integral indicator of
economic activities of the national economy, this article analyzes the influence
of the pricing policy in the power industry on the basic national GDP indicators
and represents solutions to two most critical issues in the Russian power
industry: when marginal electricity prices decrease in the day-ahead market of
the wholesale electricity and capacity market after returning to the governmental
regulation of electricity rates of nuclear and hydraulic power plants, and when
the cross-subsidization system in the Russian power industry is liquidated.
Keywords: gross domestic product, intersectoral balance, multiplicative effect,
pricing policy, power industry, cross-subsidization, marginal pricing.
Keywords
gross domestic product, intersectoral balance, multiplicative effect,
pricing policy, power industry, cross-subsidization, marginal pricing.
Related Book
Other papers in this volume
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