Russia’s Prime Minister Dmitry Medvedev said the country’s budget deficit will total around 1.5 trillion rubles ($25.4 bln) next year. He said that “revenues are planned at 14.7 trillion rubles ($249 bln), expenditures – at 16.2 trillion rubles ($274 bln), and deficit – at around 1.5 trillion rubles.” According to Medvedev, “the Finance Ministry needs to continue efforts aimed at reducing budget deficit,” as “last year’s budget deficit was 3 trillion rubles.” Source TASS
President Vladimir Putin told Gazprom PJSC to turn to refilling European gas-storage facilities next month, signaling that long-awaited additional Russian supplies could be on the way. The move will “create a more favorable situation on the European energy market,” Putin said at a meeting broadcast on state television Wednesday. Source Al Jazeera
The chaos in gas and electricity markets is set to hit one group of people the hardest this winter: the four million households that use prepayment meters (PPMs).
While most people pay their bills monthly for energy they have already used, PPMs require people to pay for energy before they use it. PPMs take whatever money is in the meter and supply energy to the household. Source Open Democracy
Russia’s Gazprom has damped hopes for additional gas exports to Europe next month as the continent struggles with record prices, despite recent hints from President Vladimir Putin that more could be forthcoming.
UK and European gas prices surged as much as 18 per cent on Monday after a keenly awaited pipeline capacity auction showed no increase from Russia either through the Ukrainian pipeline system or lines passing via Poland to north-west Europe. Source FT
