The Chamber of Commerce and Industry in St. Petersburg has discussed economic weather forecast for 2014


On the 12th of November, 2013, the meeting of the Financial Policy and Credit Organizations Committee of St. Petersburg Chamber of Commerce and Industry took place. The topic was announced as Russian economy weather forecast for 2014: partly cloudy with occasional sunshine? Andrey Lipatov, CEO of Teplocom Holding, presented a speech on the impact of standardized energy consumption on micro- and macroeconomic environment in Russia 2014. Members of the Chamber discussed general questions of economic development in Russia, St. Petersburg and its suburbs, not to leave aside microeconomic forecast for 2014, as well as the future of monetary and forex markets.

Russian economy is one of the most energy-consuming economies in the world nowadays, although according to various researches, energy consumption can be potentially decreased by 45%, with 20% decrease in heat supply systems.

According to the opinion of Andrey Lipatov, the development of energy efficiency that has been aggressively promulgated by the Russian government for the last few years is constrained by several factors a lack of motivation, information, effective financial tools and immature regulatory environment: It is quite hard to get a clear answer on the question Who personally benefits fr om energy saving? these days. If we dont know why, who cares how? Informational and motivational back-up of energy-saving projects is either poor or simply lacking. There are different constraints for energy-saving programs implementation on every level of decision making, people just dont perceive energy efficiency increase as a way to deal with a wide range of economic and ecological issues.

The CEO of Teplocom Holding believes that housing sphere is an important channel of energy efficiency increase and requires complex measures such as metering equipment installation, implementation of energy consumption standards and energy efficiency standards for each housing type, introduction of new energy-saving technologies on all steps of production and energy consumption, providing organization with the right to use financial resources they save by realization of energy-saving programs. Rational system of internal prices on energy carriers has to be formed: economy-based level of fees for the population and elimination of cross-subsidization for producers, for whom it will decrease costs and increase competitiveness. One of the most important parts of energy policy is informational back-up of on-going activities.

The speaker said that investments for reaching the goals that have been set up account to $320 milliard dollars which is comparable to yearly budget revenue of the country: We have to understand that releasing energy resources by increasing their efficiency will be three times cheaper for the Russian economy than their expansion. The investments will eventually lead to $80 milliard annually savings for end users and can pay off in 4 years, wh ereas a positive effect on economy will be even higher - $120-150 milliard a year, paying off in 2-3 years. Energy efficiency increase will help national economy to keep production sector in Russia competitive, increase revenues from export of resources, decrease costs of federal and local budgets (by $3-5 milliard a year), improve environmental situation in the country.

The financial policy and credit organizations Committee of St. Petersburg Chamber of Commerce and Industry was formed for supporting economic development of the region, creating conducive conditions for improving industry and entrepreneurial environment in the field of financial policy and credit organizations. Activities of the Committee are aimed to increase the effectiveness of cooperation between the Chamber and governmental and local bodies, help with promoting services. The Committee organizes research and analyzing of the industry position in LO and SZFO of the Russian Federation, develops conceptual strategies, paths and solutions of financial policy and credit organizations improvement. A chairman of the Committee is Gorba Michail Ivanovich, a vice-president of Joint Stock Company Saint-Petersburg Bank.