Original scientific paper
https://doi.org/10.1080/1331677X.2015.1086886
Economic efficiency and transformation of the Russian energy sector
Evgeny Lisin
Wadim Strielkowski
Ivan Garanin
Abstract
This paper considers the issues of economic transformation, reconstruction, and technical re-equipment of the energy sector in the Russian Federation. The sector is struggling with economic inefficiency and post-transformation legacy. Energy sector transformation represents a key element in ensuring the energy security and it one of he most troubling questions of energy economics nowadays. It is expected that by 2020 more than half of the energy equipment in Russia would exceed its economic life. Our results show that the main goals of reconstruction might include life extension, increasing production efficiency, and output. We demonstrate that these goals
can be achieved through partial replacement of the most worn parts of equipment (e.g. replacement of blades in the turbine), the combination of new and old equipment (such as add-in steam and gas cycle), and full replacement of equipment.
Keywords
economic efficiency; transformation; cogeneration; energy economics; energy sector; Russian Federation
Hrčak ID:
171549
URI
Publication date:
20.12.2015.
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