The heads of the EAEU countries agreed to create a common electricity market

Главы стран ЕАЭС договорились создать общий рынок электроэнергии

The heads of member States of the Eurasian economic Union (EAEU) on the basis of the meeting of the Supreme Eurasian economic Council held in Kazakh Nur-Sultan signed a Protocol on common market of electricity, writes “the parliamentary newspaper”, citing the press service of the energy Ministry of Belarus.

It is noted that the Protocol defines the legal framework for the development and functioning of the common market for electricity and provides for the powers of the EAEC for the control and regulation in the industry. The Eurasian intergovernmental Council will be able to set the rules for trade with electricity access to its transmission between countries and exchange of information for the industry.

The document says that each state Association to create a common gas market can give right particular player in the domestic market to operate on a common energy space of the Union, restricting other companies. However, after the start of the common gas market of the country will lose the opportunity to enter data limitations.

“It will allow to create equal conditions for economic entities – participants in the common electricity market of different States, namely a voluntary and competitive basis for participation of subjects of the wholesale electricity markets in the common electricity market of the Union”, – underlined in the message of the energy Ministry of Belarus.

The purpose of the agreement: enhancing energy security, establishing legal and highly competitive space for free energy trade, and strengthening cooperation within the EEU.