Temperatures in the Russian capital have reached minus 30 Celsius and electricity consumption hit a record peak on Thursday, Chubais said in comments quoted by RIA Novosti.

Emergency services reported seven people died overnight from exposure in Moscow. Another 22 were being treated in hospital, the Interfax news agency reported.

Based on previous figures by Russian news agencies this would bring to 123 the number of people who have died from cold in Moscow since the end of October.

The human toll is mainly among the homeless.

Exports of Russian gas and electricity have been cut back to provide for increased domestic demand in what is Moscow's coldest spell in 26 years.

The morning temperature in the Russian capital warmed slightly on Friday to just above minus 30 Celsius (minus 22 Fahrenheit) with a bitter northern wind and driving snow.

Russia's power infrastructure - from power stations to the heating system - has had little investment since the fall of the Soviet Union as it faces huge demand.

The electricity system, some of which dates from before World War Two, has so far coped with the challenge as people turned up the heating.

FEARS OF BLACKOUTS

But there are persisting fears of blackouts.

"Every day we are seeing a new record load on the system. Yesterday was a record in both the country and in Moscow," a UES spokeswoman said. "So far, all the electricity stations are coping with the load."

Russia's weather centre said on its Web site that daytime temperatures would stay well below minus 20 Celsius (minus 4 Fahrenheit) for at least another five days.

This year is the coldest in Moscow since the winter of 1978-1979, when temperatures fell to minus 38 Celsius (minus 36 Fahrenheit) in the capital.

The cold snap has hit public transport with many of Moscow's trolley-buses, that rely on a overhead cable, out of action. With many cars refusing to start, passengers on the city's underground railway system (metro) have swelled alarmingly in numbers.

Big display advertising in the city has been banned as a energy-saving measure. Cash dispensers have also been hit.

Oil production has been cut back as Arctic temperatures in Siberia stopped operations in many parts. Prime Minister Mikhail Fradkov cancelled a visit to the regions because of a snow storm in Belgorod, near the Ukrainian border.

Gas giant Gazprom, which reduced exports to Europe this week, said its system was working at capacity.

"Our system is indeed working at capacity in terms of production, transportation and the use of gas from underground storages," a Gazprom official told Reuters.

"But it is working stably and we have no doubts that it is going to continue doing so during the period of extreme cold, no matter how long it lasts," he said.