EAEU countries will choose a site for the common electricity market

The EAEU countries will select a site for the common electricity market in 2022, said Maxim Bystrov, chairman of the board of the NP Market Council (energy market regulator) association.

"We have all made a lot of progress in terms of creating a common EAEU electricity market. A work plan has already been agreed, and the dates have been fixed when the common market will be introduced. In 2022, we must decide on the site where electricity volumes will be sold," he said during Eurasian Congress.

Bystrov noted that an action plan aimed at the formation of a common market, has already been approved and synchronized in time with the formation of a common gas market.

At the same time, the common electric power market is supposed to be built by organizing interaction between participants of national markets while preserving the peculiarities of the functioning of each of them.

"There will most likely be two trading mechanisms: futures contracts will be terminated, possibly on the exchange, and there will be a spot market - a day ahead market for electricity. I think there will not be capacity market in the common market yet," he added.

The formation of a common EAEU electricity market "does not imply the creation of supranational regulators, the unification of infrastructural organizations, dispatch management, and uniform tariffication of services. Each party reserves the area of ​​energy security.