St. Petersburg, as the second most important Russian city in Russia is facing with waste related problems which requires taking immediate actions. The excessive diurnal volume of municipal waste generation and insufficient waste management system ring the bells to warn the decision makers. Focusing on problems, insufficiencies and opportunities of the waste management system, the paper goes through the evaluation of details of the dominant situation in St. Petersburg and two models are introduced to improve the system. At the end, an estimation of biofuel, heat and electricity generation will be provided for four incineration facility installments with design capacity of each 315,000 tons of waste per day. It will be shown that the contributing share of bioconversion processes is significant and an acceptable portion of 8% of annual electricity consumption can be supplied via those processes as well as production of 477 million liters of ethanol.