Russia Power Report Q1 2015 - New Market Research Report
The deterioration of the Russian economy will cap demand for electricity and weigh on utilities' revenues in 2015. A downward revision to our forecasts for real GDP growth amid falling global oil prices, negative investor sentiment, as well as an electricity tariff freeze, will hit earnings at companies like Fortum, Gazprom and Inter Rao - discouraging investment in the replacement of aging generation capacity.
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