The common power market rules of the EAEU may be adopted in the first half of 2022

The rules for trading in the common power market of the EAEU are planned to be adopted in the first half of 2022, Iya Malkina, assistant to the head of the EEC, said at a briefing. “The first rules are the rules of mutual trade. They will directly determine the mechanisms of trade in the common market. In this document we lay down such mechanisms as trade under free bilateral agreements, trade under fixed-term contracts and the so-called day-ahead trade, as well as correction of  actual electricity flow hourly deviations from the planned values. We hope that these rules will be adopted in the first half of 2022”, she said. The common electricity market of the EAEU member states is planned to be launched no later than January 1, 2025. As the EEC reported, no later than the beginning of 2024, it can start operating  in test mode. The common power market will allow participants from different countries to conclude free bilateral agreements, trade under fixed-term contracts and conclude contracts for the day ahead. The EEC Energy Department, together with experts from the EAEU countries, is currently preparing four draft rules for the operation of the common power market. The second document with the rules for the distribution of interstate power transmission capabilities, and the third document with the rules for access to services for the interstate power transmission  is also planned to be adopted before July 1, 2022. The fourth draft with the rules of information exchange must be accepted by July 1, 2023. In this case, all rules will come into force simultaneously, but no later than January 1, 2025. Then the common power market of the EAEU will begin its operation in a full-scale format.