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Bitcoin miners prompt Russian regions to set electricity tariffs themselves

Bitcoin miners prompt Russian regions to set electricity tariffs themselves

Russian regions have been granted the right to set electricity tariffs for households based on consumption. This is stated in the published amendments to the government resolution.

According to the document, the region, if desired, will independently determine the minimum consumption volume that can be obtained at a preferential tariff. Citizens who do not fit within it will pay a higher price for electricity.

Tariff authorities should refer to the “methodical guidelines” of the Federal Antimonopoly Service, which they will develop within two months.

The Kommersant newspaper, citing sources, reported that the volume of preferential consumption will most likely be higher than the parameters discussed earlier.

It is expected that the amendments will help in the fight against cryptocurrency miners who illegally connect to power grids in residential sectors.

Electricity tariffs for households in Russia are regulated by the state; they are below what is economically justified. Additional costs are included in the tariff for industry; this is a mechanism of cross-subsidisation. According to the energy regulator “Market Council”, in 2021 such a surcharge from business will reach 241 billion rubles.

In October, Irkutsk Oblast authorities reported a rise in electricity consumption for domestic needs by 159% due to shadow miners. According to experts, this not the limit.

Before the amendments, regions had to obtain recalculations through courts.

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