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Working paper

Реформа российских железных дорог: организация конкуренции и новые проблемы регулирования

Railway reform in Russia aims at opening the room for competition. The paper assesses the impact effect of new tariff structure on internal on-track competition and investigates its’ state at the early stage of reform. It shows that lack of tariff flexibility makes the emerged industry structure unsustainable when vertically integrated state-owned infrastructure company serves the downstream market. This provides strong incentives for the infrastructure owner to establish ‘daughter’ (unregulated) train operating companies in order to prevent cream-skimming by competitive fringe. Thus the industry structure gravitates toward complete vertical separation with access to infrastructure charged likewise Ramsey formula and the final services being unregulated.