The Russian day-ahead market model was presented to the heads of energy ministriess of the EAEU countries
Participants in the meeting of the Council of Heads of Authorized Bodies of the Member States in the energy sector of the EAEU were presented with the Russian model of the day-ahead market (DAM), and were also told about the principles and mechanisms of operation of the commercial infrastructure of the Russian wholesale electricity market. This was reported by the press service of the Market Council, where a meeting of the council on the formation of a unified electricity market of the EAEU was held.
Opening the meeting, Deputy Minister of Energy of the Russian Federation Pavel Snikkars noted the uniqueness of the group of companies - Market Council as a set of infrastructure organizations that not only ensure settlements on the wholesale market, but also regulate the operation of electricity markets and ensure coordination of the interests of all stakeholders.
“This is the structure that the Russian state has defined for itself in regulating the electric power industry at the legal level. This is classic self-regulation, which allows market participants and the state to agree when determining the rules,” said Pavel Snikkars.
In turn, Maxim Bystrov, Chairman of the Board of the Market Council and the Trading System Administrator (ATS), noted that the Russian power market is a complex structure that cannot be managed through government regulation and control.
“In 2003, the right decision was made - to delegate management to the market community. Over these 20 years, there has not been a single case of incorrect calculation of prices and market volumes for the day ahead, nor a single complaint against the ATS from participants regarding issues of challenging the correctness of calculations. This experience will need to be used as part of the work of our common energy market,” said Maxim Bystrov.
In addition, he emphasized that the most important contribution to the functioning of the electricity and capacity market is made by the Government of the Russian Federation, the Ministry of Energy of Russia, SO UPS JSC and other regulators.
The meeting participants also discussed topical issues of the formation and functioning of the emerging common electricity market of the EAEU.
As previously reported, in July 2023, at a meeting of the Council of the Eurasian Economic Commission (EEC), ATS was identified as the operator of centralized trading on the DAM of the common electric power market of the Eurasian Economic Union.
Currently, experts from the member states at the EEC site are developing the main acts regulating the functioning of the Union's common electric power market.