Russia Updates Energy Plans and IEA Counts $550 Billion Per Year in Global Energy Subsidies

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1. Russia’s energy minister Sergei Shmatko announced new energy plans from now to 2030. The new plans forecast reduced demand growth and stretch out what was planned to be added by 2020 out to 2030.

* Russia is planning to introduce 173 GWe of new generating capacity, including 43.4 GWe of nuclear by 2030.
* A total of 78 GWe of new capacity is to be realised by 2020 under the updated plan; previously, 186.1 GWe was predicted in the same timescale.
* 16.5 GWe of nuclear capacity is earmarked for decommissioning by 2030.
* There are currently 32 power reactors in operation in Russia, with a combined capacity of some 23 GWe and generating about 152 TWh.

2. The Financial Times reports that the IEA found that world economy spends more than $550 billion in energy subsidies a year, about 75 per cent more than previously thought, according to the first exhaustive study of the financial assistance devoted to oil, natural gas and coal consumption.

The IEA estimates that in 2008 – the latest year for which data are available – 37 large developing countries spent about $557billion in energy subsidies. (Previous estimate was $300 billion)

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