Russian President Vladimir Putin submitted to the State Duma of the Russian Federation for ratification the EAEU protocol on the common electricity market

This document has the status of an international treaty that defines the legal basis for the formation, functioning and development of the common electric power market of the Union.

Vladimir Putin President of Russia submitted to the State Duma for ratification a protocol on amending the Treaty on the Eurasian Economic Union of May 29, 2014 in terms of the formation of a common electricity market of the Eurasian Economic Union (EAEU). The document is posted in the electronic database of the lower house of parliament.

The Protocol on Amendments to the Treaty on the Eurasian Economic Union regarding the formation of a common electric power market of the Eurasian Economic Union was signed by the presidents of five member states of the Eurasian Economic Union - the Russian Federation, the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan and the Republic of Kyrgyzstan on May 29, 2019 at Nursultan city.

The document has the status of an international treaty, which defines the legal basis for the formation, functioning and development of the common electric power market of the Union, allowing at a qualitatively new level to use the existing advantages of the parallel operation of the power systems of the member states of the Eurasian Economic Union and defines the main provisions related to the development of electricity trade between the national electric power markets subjects of five states.

The document is also the basis for the development at the next stages of a number of regulatory documents that in more detail regulate the functioning of the common electric power market of the union, including the rules of mutual trade, rules for access to interstate transmission of electrical energy, rules for determining and distributing the capacity of interstate interchange and other documents.

"The provisions of the protocol are aimed at increasing the energy security of the EAEU member states, creating a legal space in the EAEU that allows for fair competition, creating conditions for increasing the efficiency and competitiveness of the economies of these states in the electric power industry, as well as further strengthening their mutually beneficial and equitable economic cooperation"  - says in the explanatory note to the document.