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Strategic Analysis of the Russian Electricity Industry
Frost & Sullivan, June 2010, Pages: 102
The study looks into historical and future development of the Russian electricity industry and provides analysis of the generation, transmission and distribution and energy retail sectors. Generation, nowadays a competitive sector where many private investors have entered, is analysed in detail by providing profiles for major power generating companies. Every profile contains a company’s overview, equity structure, key indicators (installed capacity, number of plants, electricity and heat production) and operational highlights.
Research Overview
This Frost & Sullivan research service titled Strategic Analysis of the Russian Electricity Industry provides a detailed analysis of the current state of the Russian electricity industry along with the industry challenges and market drivers and restraints. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: power generation, transmission and distribution, energy retail, equipment suppliers, and engineering, procurement and construction (EPC) contractors.
This analysis is available through our Energy & Power Growth Partnership Services programme. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services programme ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth. For more information on this custom subscription service, please click here.
Market Overview
The Liberalised Russian Electricity Industry is Poised to Experience Significant Growth
Russia is one of the largest electricity producers globally. After a prolonged period of underinvestment and an industry-wide reform, the Russian electricity industry has emerged in its liberalised state with numerous opportunities for strategic and portfolio investors, equipment manufacturers, and service providers.
With the industry aiming to upgrade its dilapidating assets and transmission and distribution grid, a vast investment programme is a major driving force for its development. “The most important driver for new capacity additions is the government-approved investment programme that power generating companies need to oblige with,” says the analyst of this research. “Additionally, the power generation industry is a key enabler for Russia’s economic growth as it is fuelled by the expansion of extracting and processing industries that require significant amount power for their operations.”
The growth in installed capacity translates into a demand for power generation equipment and construction services. The competitive landscape is established, with a large number of active Russian and international market participants. However, the Russian technology is lagging behind in some types of equipment when compared with that of the western analogue, and this lack of latest domestic technology solutions presents opportunities for international participants. Despite local companies dominating the construction services market, there are several instances of cross-border cooperation between Russian and European companies that sets the precedent for future development in this area.
Western Expertise to Continue to be in Demand in Russia to Produce Modern Products at par with Western Analogs
The main challenge to the spreading popularity of biomass-based power is the ability to source and have a secure fuel supply coupled with the large initial capital required for the erection of a power plant. This translates to higher up-front costs when compared to fossil fuel based as well as renewable-based solutions. “The Russian market has high entry barriers due to a prevailing culture of preferred suppliers, a high reliance on personal relationships, and bureaucracy,” explains the analyst. “However, there are a growing number of foreign manufacturers entering the market by either setting-up a subsidiary or collaborating with a local market participant.”
National R&D and heavy machinery production were outdated during the Soviet era due to which Russia was unable to offer new products at a par with Western analogs. Therefore, Western expertise and experience will continuously be in demand in Russia. “Although Western companies should exercise greater caution and conduct preliminary checks when entering the Russian market, the level of opportunities presented justifies the higher risk profile.”
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