MOSCOW, March 2 (RIA Novosti) - Domestic gas prices in Russia are set to increase two-fold by 2010 to $100 per 1,000 cubic meters against today's average price of $52, the Russian economic development and trade minister said Friday.
German Gref said the ministry proposes natural gas price indexation by 25% in 2008 and 27.7% annually in 2009 and 2010.
The ministry also forecasts an indexation of household electricity tariffs by 12% in 2008, 12.5% in 2009 and 13.5% in 2010.
Gref said that electricity tariffs over the last three years had grown by an average of 7.5% annually adding that price increases are necessary to compensate for the growth of natural gas tariffs and to attract investment to develop the electric power sector.
