The protocol on the formation of the Common Electricity Market of the EAEU entered into force

The protocol on the Eurasian Economic Union common electricity market formation came into force. This was announced at a briefing by the official representative of the Eurasian Economic Commission Iya Malkina, BelTA correspondent reports.

“On April 5, the Protocol on Amendments to the Treaty on the EAEU came into force in terms of the formation of the union's common electric power market,” said Iya Malkina. “The document established the foundations for the functioning of the common market, determined its participants and infrastructure organizations, as well as union bodies.

According to her, the document pays special attention to the development of              market-based trading mechanisms that provide non-discriminatory conditions and transparent prices, as well as the opportunity for wholesalers and buyers of electricity to conclude contracts directly with buyers and sellers from other EAEU countries.

"In order to launch a common electricity market more steps need to be taken," the EEC representative noted. "Thus, the rules for the functioning of the common market should be prepared, which will regulate the electricity trade on it, access to transit services, the determination and distribution of the capacity of interstate power transmission lines, information exchange.

"With the entry into force of these rules, the common electricity market will begin to function. The heads of our states determined that this should happen no later than January 1, 2025," Iya Malkina added.