Anatoliy Chubais Criticises Gazprom-Renova Deal

The main reformer of the Russian energy sector, Anatoliy Chubais said he does not like the merger of Gazprom and Viktor Vekselberg's energy assets. the deal will make a national energy giant which will have control over one quarter of all of Russia's generating power.

"I think that this deal, if it goes through, will not bring advantages to either Russian energy or to Russian consumers", he wrote Friday in his blog.

Gazprom and Vekselberg hope to establish a Russian giant which will generate 23 percent of electricity in the country. Russia consumes about 1 trillion kilowatt hours a year. If the deal passes, the state will have concentrated about 60 percent of the Russian Federation's generating power, taking into account RusHydro, RosAtom and InterRAO, Reuters reports.

The deal has sparked intense discussion in Russia about the role of the state and competition on the marketplace.

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