The State Duma of the Russian Federation ratified the EAEU protocol on the common electricity market

The State Duma ratified the protocol on amending the Treaty on the Eurasian Economic Union dated May 29, 2014 in terms of the formation of a common electricity market of the Eurasian Economic Union (EAEU). The document was submitted to the State Duma for ratification by the President of the Russian Federation.

The Protocol on Amendments to the Treaty on the Eurasian Economic Union regarding the formation of a common electricity 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 electricity 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 EAEU member states and defines the main provisions related to the development of electricity trade between the subjects of national electric power markets of five states.

The document is also the basis for the development at the next stages of a number of regulatory documents that regulate in more detail the functioning of the common electricity 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 sections and other documents.

"The provisions of the protocol are aimed at improving 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.

The Protocol shall enter into force on the date of receipt by the depositary of the last notification of the completion by the signatories of the domestic procedures required for its entry into force.