Economics ministry proposes 15% limit for 2007 gas tariff growth

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MOSCOW, June 6 (RIA Novosti) - Russia's economics ministry proposed Tuesday establishing a 15% ceiling on growth in tariffs for natural gas in 2007 and 10% for electric power, a government source said.

The source said the Economic Development and Trade Ministry had advocated a 14% limit for gas price hikes in 2008 and 13% in 2009. He said the upward revision of prices had been caused by unprofitable gas sales on the domestic market.

Railway tariffs will increase 8% in 2007, 6% in 2008 and 5.5% in 2009 as the country moves to eliminate cross subsidies, and electricity rates will grow 9% and 8% in 2008 and 2009 respectively in a bid to modernize the sector's main assets and attract investment into the sector.

The source also said electricity rates would increase faster for household customers than for industrial clients.

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