• Established in 2004
• Sergey Novikov - the Head of the FTS.
• The Head and his deputies are appointed by the Government of the Russian Federation on a permanent basis (indefinite terms of office).
• The Federal Tariff Service is an executive body authorized to exercise legal control in price and tariff regulation for goods and services in compliance with the Russian Federation legislative acts as well as the control over their implementation except price and tariff regulation that is within jurisdiction of other federal executive bodies. 
• The FTS is financed from the federal budget funds.

Functions:

• The Federal Tariff Service is a federal executive body that regulates natural monopolies in which case its functions encompass price (tariff) determination (setting) and control over issues related to price (tariff) determination (setting) and application in the business of natural monopoly agents.
• The Federal Tariff Service is realizing Standard-setting activities within the established powers. The Federal Tariff Service is authorized to determine (set) prices (tariffs) and control issues related to determination and application of prices /tariffs/ in the electric power industry; gas industry; transmission of oil and oil derivatives through main pipelines; railroad transportation; services of cargo terminals, ports and airports; services in use of an infrastructure of internal waterways; services on generally available electric and postal communications; services in carrying out of an estimation of vulnerability of objects of a transport infrastructure and vehicles; in the sphere of the Russian Federation’s Public Utility; products of nuclear fuel cycle and defense.
• The Federal Tariff Service is authorized to keep a register of natural monopolies and also the federal information register of guaranteeing suppliers and zones of their activity

• Generating companies operating in the wholesale and (or) retail markets, the Federal Grid Company, the distribution network companies, system operator, distribution companies

• Defining new rules of the retail market, including related to the supply of electricity to the population, improving the wholesale market rules, including market power; clarification of the rules of long-term management of the complex network.