News
Next stage of development of EAEU common electric power market completed
The Heads of Government of the Eurasian Economic Union countries approved the Rules for mutual trade in electric power, as well as the Rules for determining and allocating the capacity of interstate cross-sections. These are two of the four main rules that should be adopted in the Union for the successful functioning of the common electric power market.
The adoption of these documents completed the next stage in forming the legal framework for the functioning of the Union's common electric power market. According to Arzybek Kozhoshev, Minister in charge of Energy and Infrastructure of the Eurasian Economic Commission, adopting this package of rules is a serious step towards creating this market. The rules will make it possible to accelerate the preparation of centralized trading operators and the registrar to establish the necessary infrastructure ensuring the market operation.
The Commission and the Unions countries still have to carry out many activities to finalize the remaining rules for the functioning of the common electric power market and regulatory legal acts ensuring its proper operation.
For reference
The Rules for mutual trade in electric power envisage the practice and procedures for the participants' access to the common market, conclusion of the accession agreement, and mechanisms for interaction between trading participants and the future market infrastructure. Besides, the Rules define the procedure for entering into, registering, recording, and terminating purchase and sale agreements, and contain a list of interstate cross-sections where trade will be conducted.
The Rules for determining and allocating capacity ensure the necessary conditions for the functioning of the common electric power market and non-discriminatory use by its participants of the capacity of interstate power transmission lines. Adopting the rules is required to reduce the economic risks of sellers and buyers of electric power, which are possible due to the technical non-realizability of transactions concluded in the Union's common market.
