UES says that in its Siberia price zone, owing to high water levels, hydro power plants were able to increase generation, 'forcing out' thermal generation. As a result, the average price of electricity in this zone in September 2006-February 2007 was as low as RUB148/MWh (US$5.6/MWh). For comparison, the average regulated wholesale rate for electricity purchase in Siberia was RUB235.4/MWh ($9/MWh) in 2006 and RUB254.4/MWh ($9.7/MWh) in 2005.
The market launched on 1 September 2006 replacing a regulated market with a system of bilateral contracts.
