Updated at 13:40,22-07-2024

Protocol on creating common electricity market in EAEU comes into force

Protocol on creating common electricity market in EAEU comes into force
Iya Malkina. Photo from Facebook account
The protocol on the establishment of a common electricity market in the Eurasian Economic Union (EAEU) has come into force, official representative of the Eurasian Economic Commission Iya Malkina said at a briefing for the press on 6 April, BelTA has learned.

“On 5 April the protocol on amendments to the EAEU Treaty came into force with respect to the formation of a common electricity market of the EAEU. The document sets out mechanisms of the functioning of the common market, defines its participants and infrastructure, the principles of cross-border trade in electricity, as well as the competences of the EAEU's bodies,” Iya Malkina said.

According to her, the document pays special attention to the market trading mechanisms that provide for non-discriminatory terms and transparent prices, as well as the opportunity for electricity wholesalers and buyers to conclude contracts directly with buyers and sellers from other EAEU countries.

“In order to launch the common electricity market, it is necessary to implement a number of measures. Thus, the rules of the operation of the common market should be elaborated. They will regulate trade in electricity, access to transit services, the determination and distribution of the capacity of interstate power transmission lines, information exchange,” the EEC representative noted.

“The entry into force of these rules will launch the common electricity market. The heads of state determined that this should happen no later than 1 January 2025,” Iya Malkina added.