Russia Restate Determination on Energy Efficiency
MOSCOW has restated their plans to improve Russia’s energy efficiency by pledging huge investments of trillions of dollars.
The Russian authorities have voiced expectations that energy efficiency projects could eventually bring significant rewards. Energy saving measures would allow Russia to save up to 65 million tons of fuel per year, which represents 15 per cent of domestic energy consumption.
President Dmitry Medvedev has urged prioritizing energy saving projects as an important factor in the country's modernisation efforts.
Last year Russian lawmakers adopted new legislation on energy saving and energy efficiency, designed to replace wasteful and outdated technologies, introducing tax breaks and other financial incentives to encourage energy saving projects. They also adopted the long-term programme, "Russia's energy strategy through 2030" that stipulates $2.1trillion in investments in the energy sector by 2030.
Towards the end of 2009 the Russian government also announced plans to spend $59 billion from the federal and local budgets to finance energy-saving projects. With these projects projected to save up to $329 billion between 2010 to 2020, according to government planners.
In July this years the Russian government issued an order to make the governmental Commission on the fuel and energy sector responsible for energy efficiency matters. The commission is headed by first Deputy Prime Minister, Igor Sechin, who had received an order from President, Medvedev in March to oversee energy efficiency issues.
