EEC worked out in detail the roadmap for the creation of a common EAEU energy market

The EEC Advisory Committee on Electricity worked out in detail the roadmap for the creation  of a common EAEU electricity market, the EEC press service announced.

The “road map” of activities to create a common electricity market (CEM)  for the five countries of the Eurasian Economic Union was approved at the 13th meeting of the Advisory Committee on Electricity. It specifies and details the intermediate stages of work to create a common market, the press release said.

The protocol of the event, which was held in absentia due to measures against COVID, was signed by Emil Kaykiev, a member of the collegium (minister) for energy and infrastructure of the EEC.

Thus, the EEC emphasized, “work continues on the creation of the EAEU CEM, which should begin to function no later than January 1, 2025.”

“A full-fledged launch of the Union’s CEM can lead to an increase in the volume of mutual trade in electricity, and will create the prerequisites for strengthening the economies of the EAEU countries,” said Kaykiev.

The architecture of the upper level of the "road map" was developed and approved earlier. The Heads of EAEU Member States approved an Action Plan aimed at creating a common electricity market on December 20, 2019. The document sets the deadlines for the adoption of acts (rules, regulations) governing the functioning of the EAEU CEM. Also deadlines are set for a number of organizational measures, such as the selection of trading floors and testing the technological basis of the market.

“In order to optimize the sequence of processes for the creation of the EAEU CEM as much as possible, the experts of the countries considered it necessary to determine the intermediate stages of the development and approval of draft documents,” the EEC explained.

For this, a draft roadmap was prepared jointly with the EEC. For each of the documents it contains, the terms for approval by the Advisory Committee, assessment of the regulatory impact and subsequent discussion by the Union bodies. It is reported that "all parties supported the approval of this "road map". It is noted that the members of the subcommittee on the creation of the EAEU CEM of the Consultative Committee on the Electric Power Industry are obliged to be guided by the interim terms of work on the acts approved in the document.

It is noted that "on the agenda item related to approaches to determining and allocating the capacitance of interstate crossections (interstate power lines), the positions of the parties have come closer." “There has been progress that will allow us at the expert level to advance in the development of draft rules for determining and allocating capacitance,” the ECE emphasized.