06:32 GMT +318 February 2018
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    Russian domestic energy source prices inconsistent

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    MOSCOW, August 18 (RIA Novosti) - Prices of energy resources on the domestic market are inconsistent, Central Bank of Russia Chairman Sergei Ignatiev said at a cabinet Thursday.

    The price of gas on Russia's domestic market is "low relative to other energy sources," Ignatiev said.

    "There is a price inconstancy that needs to be rectified," he said, adding that a system for raising energy source prices needs to be chosen, he said.

    When Industry and Energy Minister Viktor Khristenko asked the CBR chairmen to what extent rises in tariffs on the services of natural monopolies influence inflation, Ignatiev said "the significance of the wholesale price for gas is, in my opinion, exaggerated.... But it does, of course, influence inflation."

    Maximum growth in gas tariffs for 2006 is set at 11%. Tariff rises on electrical energy and rail transit will be lower than inflation, which is expected to be between 7 and 8.5% next year.

    Gazprom, the government gas monopoly, believes the domestic gas price should be increased at a faster rate to increase profitability on the domestic gas market. It previously requested a 22% price hike of next year.

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