Even if their comments are considered, nothing will change for miners, the Ministry of Energy clarifies: cryptocurrency mining companies will not be removed from the scope of the new mechanism—meaning they will have to pay starting January 1 not based on actual consumption, but for nearly all kilowatts of their maximum power capacity.
The document is being amended primarily for the benefit of utility companies. Specifically, it is proposed not to apply the new mechanism to heat, water supply, and wastewater disposal enterprises, writes the publication citing participants of a working group meeting.
Utility companies complain about costs and point out that, according to the draft ministry resolution, they are required to have backup power sources, which will have to be paid for additionally. Expenses could at least double, and ultimately these costs will be factored into tariffs and fall on the shoulders of the population, utility companies lament. Additionally, they note that the threshold power values proposed by the draft have no technological or economic connection to the actual costs of power grid companies, leading to extra revenue for grid operators, complain working group participants.
The Ministry of Energy explained to Kommersant journalists that large data centers (DCs) and mining facilities have been placed in a separate group—the mechanism will apply to them in any case, regardless of their grid connection date—that is, for both new and all existing electricity buyers. Moreover, for miners, the minimum payable volume is proposed to be set immediately at 90% of the company's declared capacity, not at 70% as for others.
The 'take or pay' principle implies that consumers will pay for electricity not based on actual consumption, but based on the maximum possible volumes of electricity consumption. The scheme will affect industrial enterprises with a capacity exceeding 670 kW. The Ministry of Energy expects the new mechanism to come into effect in 2027.
Previously, the mining company 'Algorithm' conducted a study showing that within the next two to three years, the model of continuous operation of mining farms from the power grid will become economically unviable in Russia. Due to rising energy costs, Russia is already 'losing competition to large American companies,' the study's authors concluded.
'Algorithm' sent a letter to the Russian Ministry of Energy requesting abandonment of the 'take and pay' principle. The letter argued that under current unfavorable economic conditions, miners could become energy-balancing organizations—capable of utilizing power capacities during idle periods and, conversely, limiting consumption when the grid is under strain.
