Russia and Germany set to establish energy efficiency agency

Feb 04, 2009 01:00 AM

Russia and Germany plan to establish a joint agency on energy efficiency and power saving by April, Russian Energy Minister Sergei Shmatko said in Berlin.
"We have settled the date -- the company should be established no later than April," the minister said. The agency, comprising energy companies and banking structures, will be registered as a non-commercial partnership, he said.

In June 2008, Russian President Dmitry Medvedev ordered the adoption of measures to reduce the Russian economy's energy intensity by 40 % from the 2007 level by 2020. Energy intensity represents the ratio of energy consumption to the Gross Domestic Product.
According to the energy ministry's estimates, Russian energy intensity is 4-4.5 higher than the European average.

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