Who are the world power houses? According to International Trade in Great Britain, that would be Russia and China, who are the world's largest energy consumers and producers. The two countries have proposed expanding its electricity power program to enhance energy security, in other words -- electricity trading.
Sources with China's largest grid company, State Grid, the company has finalized a long-term power supply deal with Russia. Under the [trade] agreement, Russia will transfer 3.6-4.3 billion kWh of power to China in 2008-10, 18 billion kWh in 2010-15, and 60 billion kWh from then on.
Talks are even in works with State Grid to import power into Mongolia and other countries of the like. This is to meet the growing demand in China with an increase power consumption of 5 percent since the beginning of 2009.
What will this mean for China sourcing out power?
Time will tell. Instead of increasing jobs and boosting the economy for the Chinese, China is sourcing electricity to the Russians. Electricity has become an essential element in many socialites throughout the world. It serves as the primary function for lighting and powering technology, such as computers and televisions. It serves as a lifeline in hospitals, government buildings and public service building (traffic lights and metros)
How will these two countries maintain its relationship? Can and will Russia use it as a leverage someday?
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