Russia is set to confirm an 11 percent increase in OAO Federal Grid Co. power tariffs starting July 1, Interfax reported, citing a person it didn’t identify.

Rates will rise a further 9.4 percent in July 2013 and by the same amount the following year, the news service said.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net