Rules for the operation of the common electricity market of Belarus and Russia are being prepared for signing

Issues of bilateral cooperation between Belarus and Russia in the energy sector, including the creation of common energy markets, were discussed in Mogilev at a meeting of the Parliamentary Assembly Commission on Energy and Transport.

As Viktor Karankevich, Minister of Energy of the Republic of Belarus informed, the draft interstate agreement on the formation of a united electricity market has practically passed the domestic procedures, and in the near future it will be sent to the Government for consideration.

The document defines the powers of government bodies and infrastructure organizations, the subject composition of market participants.

Approaches were agreed on the application of uniform principles of regulation on the common market in the field of activities of natural monopoly holders in the electric power industry, uniform tariffs for their services both for participants in domestic markets and participants in the common market.

“A draft interstate agreement has been prepared, which will approve the rules for the functioning of the common electricity market. The document is in a high degree of readiness,” the Minister emphasized.

The unified electricity market should start operating from January 1, 2024.

At the first stage, electricity purchase and sale operations will be carried out through authorized business entities - one from each party.

From 2025, the united electricity market of Belarus and Russia should be synchronized with the operation of the electricity market of the Eurasian Economic Union.

From 2027, deeper integration is envisaged with the expansion of the subject composition of market participants.

Each of the designated stages should be preceded by serious work on the harmonization and unification of national legislation, the implementation of market functioning mechanisms in government and industry programs.

“And here your proposals on the preparation of relevant bills are important, including an assessment of their regulatory impact on the development of domestic markets, taking into account the national interests of each of the parties,” the Minister said, addressing the members of the Parliamentary Assembly Commission on Energy and Transport. “For the prompt identification and resolution of problematic issues of legal regulation, it is advisable to organize high-quality monitoring in the designated areas legislation.”