Russian officials discussing indexing gas prices by 10% twice per year for industrial consumers

MOSCOW. May 29 (Interfax) - Russian officials are discussing the idea of raising gas prices for industrial categories of consumers, including energy, by 10% in the first and fourth quarters of each year.

"The Energy Ministry just yesterday announced that they are discussing raising the gas price to the FAS price by a factor of 1.1, namely by 10%, in the first and fourth quarters of each year," Dmitry Vologzhanin, director of the Council of Energy Producers, said on Wednesday during a meeting of the Russian Union of Industrialists and Entrepreneurs (RSPP) commission on energy.

Several Interfax sources familiar with the discussion confirmed that the idea is under discussion, and that it concerns a possible increase in prices for all categories except the population.

It is not yet clear from what period the decision could be reached.