Shoigu urged local residents not to panic, saying the dam was unaffected and there was no threat of flooding. Commenting on reports that locals were buying up petrol at filling stations Monday, he pledged uninterrupted fuel and electricity supplies to the region.

The accident cut power supplies to homes and companies, including metal giants Evraz Group and RusAl. Six factories in the nearby Altai region have reportedly shut down due to the electricity shortage.

The energy ministry, however, said late Monday that power supplies disrupted in five Siberian regions, including at aluminium plants, had been restored using supplies from thermal power stations in Siberia and the European part of Russia.

RusHydro, the owner of the Sayano-Shushenskaya plant built in 1978, said Tuesday it could restart one or two generating units before the end of this year.

Experts warned Monday that electricity prices could rise by 20-30 percent for industries in the region following the disaster, which forced nearby thermal power stations to increase output to compensate for the Sayano-Shushenskaya station's closure.

President Dmitry Medvedev expressed condolences to the victims' families Monday, a day which also saw a suicide bomber attack a police station in south Russia's Ingushetia, killing at least 20.