Russian state-owned electricity titan RAO UES has said that it will increase electricity exports to China in a phased manner from 2008, reported Russian press agency RIA Novosti, quoting a deputy chairman of the company.
The report quoted Leonid Drachevsky as saying: We have an agreement on power exports to China, which includes three stages, and we will start implementing the first stage next year.
Elaborating on the proposal, Mr Drachevsky said that RAO UES plans to export between 3.6 billion kWh and 4.5 billion kWh per year in the first stage. In the second stage this will be increased by 18 billion kWh annually, while in the third stage, this will in increase by a further 38 billion kWh a year, RIA Novosti revealed.
Mr Drachevsky is also reported to have confirmed that Russia is ready to supply electricity to Korea, but is now awaiting offers from foreign investors.
Mr Drachevsky said: Supplies of electricity to the Korean peninsula could guarantee stability in regional hot spots, including those that are experiencing a deficit of power resources.