On 6 October the official publication portal posted resolution No. 1302 of the same day, one page signed by Mishustin, which we read in full this session. It adds a single paragraph to point 42 of the Pricing Fundamentals for regulated prices in the power industry — the rules, in force since the end of 2011, under which the state sets the prices it controls in that market.
The paragraph says that for one year, 2027, the regulated price in one segment will not be produced by the indexation formulas that otherwise govern it. It will be computed under a different procedure — one built for a different situation entirely.
One paragraph, one year
The full addition, translated:
“In relation to generating objects of suppliers — subjects of the wholesale market owning, by right of property or on another legal basis, thermal power stations, the regulated price (tariff) for electric energy for 2027, supplied under regulated contracts, is calculated in accordance with a procedure determined by the federal executive body in the area of tariff regulation, on the basis of which the price (tariff) is calculated for electric energy supplied in the conditions of capacity supply in the forced mode, and subsequently — with the application of the indexation formulas for regulated prices (tariffs) for electric energy (capacity) approved by the Federal Antimonopoly Service.”
Four elements, each the paragraph's own: who — suppliers on the wholesale market that own thermal power stations; where — regulated contracts, the segment of that market in which the price is a tariff set by the state rather than an auction result; when — the year 2027, and that year only; how — by a procedure that the federal tariff regulator determines, the same one used as the basis for pricing electricity supplied under what the rules call the forced mode of capacity supply.
What moved off the track
The sentence carries its own contrast. For 2027, the special procedure; “subsequently” — the indexation formulas approved by the Federal Antimonopoly Service. Indexation is a continuation: next year's tariff is this year's tariff carried forward by a formula. For one year, that chain is cut. The 2027 price in this segment will be computed, not continued — and the formulas resume afterwards, applied after a year priced by the special procedure.
That is the whole visible mechanism, and it is worth stating what it is not. The resolution does not contain the procedure it points to; it names the body that determines it. It does not define the forced mode; it borrows a calculation basis from it. And it does not say — anywhere — whether the price computed this way will come out above or below what the formulas would have produced. We do not supply a direction the document does not name.
What the resolution does not say
What the forced-mode procedure rests on. The term belongs to the wholesale-market rules, which we could not retrieve from this environment this session; the current consolidated texts sit in legal databases that are unreachable from here. What we can say from this page alone is only that the procedure exists, that the tariff regulator defines it, and that it was built for pricing capacity supplied in the forced mode — not what it takes into account.
Who buys under regulated contracts. Which consumers and which territories the regulated segment covers is not in the resolution, and the same unreachable rules govern it.
Why one year. The text says “for 2027” and “subsequently — with the application of the indexation formulas”, and nothing else. Whether 2027 is a reset that the formulas then carry forward, or an exception that expires, is a question the paragraph does not answer.
Whether a tariff decision follows. The procedure is the regulator's to determine; whether the Federal Antimonopoly Service has issued or amended anything for 2027 we could not check — its site is unreachable from this environment.
What this means for the series we track
Regulated electricity tariffs are part of the administered layer of Russia's price system — prices that move when the state decides they move. Our annual inflation indicator reads 6.3% year on year through August, scoring 95 of 100 against a pre-war average of 4.6% and a registered trouble line at 40%. Our inflation guide explains how administered decisions reach the consumer index; the route from a wholesale segment to a household bill runs through more steps than this document covers, and we are not going to compress them into a forecast.
Nothing moves in the model today. What the resolution changes is not a number but the way a number will be made: for one year, in one segment, the state will decide what electricity costs by computing it afresh rather than by continuing last year's figure. The strength index is 46.4 of 100, in the stress zone. This morning's run moved no reading.