Russian government allows regions to raise electricity prices for crypto miners-mining Bitcoin messages
Russian government allows regions to raise electricity prices for crypto miners-mining Bitcoin messages
The federal government in Moscow has allowed regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at home. Subsidated budgetary current in Russia is often used to shape digital currencies in cellars and garages.
regions in Russia receive approval to increase the costs for homes mining
Russians that reduce cryptocurrencies at home can expect higher electricity bills due to a reform that enables regional authorities to limit electricity delivery to prefabricated prices. The step takes place after local pension companies had requested the authority to determine threshold values for the amount of subsidized electricity that is available to the general population while complaining about the spread of crypto mining in residential areas.
private customers have to pay more for consumption that exceeds these thresholds, the Russian economic newspaper reported. Most Russian regions still have to introduce new pricing models, with the exception of the Crimea, where cheap electricity is already limited to 150 kWh per month. The Federal Cartel Office and the Energy Ministry have assured that the new politics is aiming to contain "inappropriate energy consumption" and should not increase expenses for most consumers.
The electricity tariffs for households in Russia are regulated by the state, which holds it far below the economically justified level. The electricity suppliers compensate for the difference from higher tariffs for companies. In 2021, companies are expected to pay over 240 billion rubles (almost 3.3 billion US dollars) to finance this “cross-subsidization”, as data from the Russian energy market supervisory authority show.
According to an estimate by the commerce, the average monthly consumption per budget in the Russian Federation was around 250 kWh last year. Around 40 % of the apartments in apartment buildings now consume more than 600 kWh per month.
The latest change in the Federal Government's decree will give all other regions the opportunity to introduce differentiated electricity tariffs in addition to the annexed Crimea. The changes come after the power distributor and authorities in the Oblast Irkutsk have complained about the rapidly growing number of crypto farms in residential buildings.
electricity for households in Irkutsk, which is known as the crypto mining capital of Russia, costs only 0.86 rubles ($ 0.01) per kWh, while the average tariff throughout Russia is 4.25 rubles (almost $ 0.06). At the beginning of December, media reports showed that a local energy supplier, Irkutskenergosbyt, filed 85 complaints against miner at home.
mining is one of several crypto-related activities that remained outside the scope of the "On Digital Financial Assets" law, which partially regulated the Russian crypto room in January. Commercials in Moscow were said to have claims, recognize as a business. This would also enable the supply companies to calculate the miners more for the energy they need to shape digital coins. A era at the State duma recently held his first meeting to discuss regulations for mining and other sectors in the crypto industry.
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