MINERALNYE VODY, May 4. /TASS/. Power consumption in Russia has gained half a percent since the beginning of this year compared with the same period last year, Energy Minister Nikolay Shulginov said on Thursday.

"A solid increase by 0.5% has been registered year-to-date compared with the same period last year," he told reporters on the sidelines of the Caucasus Investment Exhibition in Mineralnye Vody.

Deputy Energy Minister Yevgeny Grabchak told TASS earlier that power consumption in Russia would most probably rise by 1.5-1.6% in 2023.

The Caucasus Investment Exhibition is taking place from May 3 to 4 at MinvodyExpo in the city of Mineralnye Vody. The exhibition is aimed at developing the regions that make up the North Caucasus Federal District. The event brings together key investors, initiators of investment projects, development institutions and banks in the North Caucasus, with experts, entrepreneurs and manufacturers presenting new economic vectors and business ideas, as well as current development trends and strategies. The event is supported by the Ministry of Economic Development of the Russian Federation and organized by the Roscongress Foundation, while Northern Caucasus Resorts is its strategic partner. TASS is the event’s information partner.