Russian electricity and energy investment law / by Anatole Boute.
2015
KLB3432 .B68 2015 (Map It)
Available at Cellar
Formats
| Format | |
|---|---|
| BibTeX | |
| MARCXML | |
| TextMARC | |
| MARC | |
| DublinCore | |
| EndNote | |
| NLM | |
| RefWorks | |
| RIS |
Items
Details
Author
Title
Russian electricity and energy investment law / by Anatole Boute.
Published
Leiden ; Boston : Brill Nijhoff, [2015]
Call Number
KLB3432 .B68 2015
Former Call Number
Comp 300 L59 no.65
ISBN
9789004203273 (hardback : alk. paper)
9004203273 (hardback : alk. paper)
9789004203280 (e-book)
9004203281 (e-book)
9004203273 (hardback : alk. paper)
9789004203280 (e-book)
9004203281 (e-book)
Description
xliii, 759 pages : illustrations ; 25 cm.
System Control No.
(OCoLC)910964897
Summary
Electricity supply plays a strategic role for Russia’s economic development and for social peace. As a main consumer of natural gas, electricity is also of central importance for the efficient management of Russia’s energy resource basis. Today, however, the electricity sector is in an obsolete condition. Investments are needed in the modernization of the infrastructure. This book analyzes the liberalization and privatization program that Russia is implementing to attract private investments in this modernization process. Taking a comparative approach, this analysis critically assesses Russian electricity law in the light of the European liberalization experience. Given the strategic importance of electricity, investors face significant risks of government intervention. This book identifies these regulatory risks and examines investment protection mechanisms under Russia’s national and international investment obligations.
Note
Electricity supply plays a strategic role for Russia’s economic development and for social peace. As a main consumer of natural gas, electricity is also of central importance for the efficient management of Russia’s energy resource basis. Today, however, the electricity sector is in an obsolete condition. Investments are needed in the modernization of the infrastructure. This book analyzes the liberalization and privatization program that Russia is implementing to attract private investments in this modernization process. Taking a comparative approach, this analysis critically assesses Russian electricity law in the light of the European liberalization experience. Given the strategic importance of electricity, investors face significant risks of government intervention. This book identifies these regulatory risks and examines investment protection mechanisms under Russia’s national and international investment obligations.
Bibliography, etc. Note
Includes bibliographical references (pages [707]-754) and index.
Record Appears in
Table of Contents
Acknowledgments
xi
List of Tables
xii
List of Figures
xiii
List of Maps
xiv
List of Cases
xv
List of Legislation
xxx
Abbreviations
xli
About the Author
xliv
Introduction
1
1.
The Modernization Challenge
22
1.
Physical State and Structure of the Russian Electricity Sector
26
2.
Prospects for Development of the Electricity Sector until 2020 and 2030
45
3.
Conclusions
71
2.
The Russian Electricity Market Reforms
74
1.
The Soviet Organization of the Electricity Sector (1918--1991)
78
2.
The Post-Soviet Transition (1992--2001): First Steps toward Reform
81
3.
The 2003--2011 Privatization and Liberalization Reform
90
4.
Conclusions
111
3.
The Regulatory Authorities
113
1.
The Theory of Regulatory Independence and Credible Commitment
119
2.
Constitutional Division of Powers for Electricity Regulation in Russia
123
3.
The Government of the Russian Federation
129
4.
Ministry of Energy
133
5.
The Regulator of the Wholesale Market: The Market Council
137
6.
The Federal Anti-Monopoly Service
149
7.
The Federal Service for Tariffs
154
8.
Regional Tariff Authorities
158
9.
Municipal Authorities
161
10.
The Normative Nature of Regulatory Decisions
163
11.
Conclusions
165
4.
Principles of Russian Electricity Law
169
1.
Freedom of Interaction among Market Parties
173
2.
Free-Market Price Formation
176
3.
The Affordability of Electricity Supply
184
4.
The Economically Well-Founded Nature of Prices
188
5.
The Balance of the Economic Interests of Suppliers and Consumers
192
6.
Phasing Out Cross-Subsidies
194
7.
The Stability of Investment Conditions
201
8.
Non-Discrimination
208
9.
Unbundling
216
10.
Transparency
223
11.
Conclusions
224
5.
The Wholesale Electricity and Capacity Market
227
1.
Impact of Public Interference with Prices on Electricity Investments: The Theory
229
2.
The Structure of the Russian Wholesale Market
237
3.
The Transition and Model Wholesale Markets
237
4.
The Electricity and Capacity "Commodities"
240
5.
Wholesale Market and Nodal Zones
246
6.
Wholesale Market Participants
252
7.
Price Formation Mechanisms in the Wholesale Electricity Market
273
8.
The Capacity Market
293
9.
The Risk of Political Interference with Free-Market Prices
314
10.
Interference with Prices and the Principles of Russian Electricity Law
342
11.
Conclusions
355
6.
The Retail Markets
363
1.
Retail Market Participants
366
2.
Free-Market Price Formation in Retail Markets
379
3.
Regulated Tariffs for Domestic Consumers
384
4.
The Contractual Architecture Governing the Retail Markets
390
5.
Metering
395
6.
Non-Price Zones, Isolated Regions and Remote Areas
398
7.
Conclusions
408
7.
The Electricity Network Infrastructure
411
1.
The Federal Grid Company (Transmission)
415
2.
The Territorial Network Companies (Distribution)
418
3.
Access to the Network
423
4.
Connection to the Network
427
5.
Connection and Access to Private Network Infrastructure
433
6.
Compensation for Network Losses
436
7.
Transmission and Distribution Tariffs
440
8.
Connection Tariffs
447
9.
Conclusions
448
8.
Combined Heat and Power and District Heating
451
1.
Heat Tariff Regulation in Russia
455
2.
Regulating Combined Heat and Power: The Challenge of Cost Allocation
472
3.
Toward a New Heat Regime: The 2015--2020 Reform of the Russian Heat Market
482
4.
Conclusions
486
9.
Renewable-Energy Law
490
1.
Instability of Support Schemes and Investments in Renewable Energy Sources
494
2.
The Legislative Process
498
3.
Main Concepts of Russian Renewable-Energy Regulation
503
4.
The Retail Renewable-Energy Tariff Scheme
515
5.
The Wholesale Capacity-Based Support Scheme
520
6.
Joint EU-Russian Renewable-Energy Projects
528
7.
Conclusions
535
10.
Guarantees of Protection under Russian Investment Law
540
1.
Sources of Russian Investment Law
545
2.
Jurisdictional and Procedural Aspects of Dispute Resolution
550
3.
Substantive Protection
553
4.
Conclusions
562
11.
International Investment Law
564
1.
Sources of International Investment Law
571
2.
Access to Arbitration on the Basis of the Russian BITs
576
3.
Access to Arbitration on the Basis of the ECT
589
4.
Preliminary Conclusions on Access to International Arbitration
594
5.
Expropriation
596
6.
National Treatment Standard
613
7.
Fair and Equitable Treatment
624
8.
Umbrella Clauses
646
9.
Force Majeure and the State of Necessity
652
10.
Conclusions
658
12.
Regulatory Convergence
662
1.
The Concept of Regulatory Convergence and Its Meaning within the EU-Russian Energy Relationship
665
2.
The Impossibility of Regulatory Convergence?
673
3.
Conclusions
690
13.
General Conclusions
692
Bibliography
707
Index
755