Institutional, Technical and Economic Challenges of Electric Power Development in Central Asian Countries: The Role of the Russian Federation

The article provides a comprehensive analysis of the structural constraints that hinder the sustainable development of the Central Asian electric power industry. Key barriers stem from a combination of interrelated factors, among which are fragmentation of the institutional environment, water and energy asymmetry, and significant wear and tear of production and network infrastructure. The analysis demonstrates that the identified problems are of a dualistic nature – they simultaneously have an institutional and technical- economic dimensions. At the same time, the possibilities of an adequate response to these challenges are significantly limited by the lack of supranational, consensus‑based institutional management mechanisms. The lack of effective formats for multilateral cooperation between the countries of the region makes it difficult to develop coordinated development strategies, synchronize investment programs and optimize the modes of operation of cross-border energy systems. In this context, the participation of the Russian Federation is analyzed not within the framework of a generalized geo-economic paradigm, but with an emphasis on specific existing and promising mechanisms of interaction in the energy sector. This approach makes it possible not only to detail the forms and extent of Russian participation in the development of the regional energy system, but also to substantiate its importance as a factor in reducing systemic risks.