Manufacturing industry will see no growth of energy prices, Semashko says

MINSK, 10 February (BelTA) – The increase in prices for energy sources for industrial companies will slow down, Deputy First Minister of Belarus Vladimir Semashko said at a session of the Ministry of Industry on 10 February. “The tariffs on energy were increased 10%-15% on 1 January 2011, but I ask you to be patient. I believe it would be the last increase for the next several years,” he said. In his words, such forecast is based on two key factors. The point is about seventeen constituent documents on the Single Economic Space. Two of the abovementioned documents suggest the formation of the common oil and petrochemicals market and natural gas monopolies. “From now on, Belarus will import oil and oil products without any duties and restrictions,” Vladimir Semashko said. The current situation is far better than it was in 2010, when Belarus had to go through certain difficulties. Nevertheless, the Belarusian companies did not suspend oil refining. “The situation has improved. We did not import any oil from Russia in January, while the refineries kept operating,” Vladimir Semashko said. The second important factor, which will curb the increase of gas prices, is switching to equal-income gas prices in 2012-2015. In line with the SES agreement, the parties have incurred obligations to enact equal-income prices. Thus profit margins on gas will be the same as in Russia and in Belarus, Ukraine, and Germany. By 2015 the member-states of the Customs Union will switch to equal prices. “That is why we have to wait a little longer. We will get results immediately once we apply the principle of equal-income prices,” Vladimir Semashko believes. He said that there are plans to put an end to the system of cross subsidies. “We have gone too far with cross subsidizing and have to put an end to these practices,” he said. One more factor, which will make Belarus’ economy more competitive, will be the modernization of the national energy system. Thus, the introduction of new efficient units at Belarusian CHP-plants will help produce cheaper energy.

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