Eurasian Economic Union’s common electricity market expected to go online by 2025

Photo: belta.by

The common electricity market of the Eurasian Economic Union will be launched on 1 January 2025 at the latest.

The deadline was mentioned during an offsite session of the Advisory Committee for Electricity Industry of the Eurasian Economic Commission in Cholpon Ata, Kyrgyzstan, BelTA has learned. Member of the Board for Energy and Infrastructure of the Eurasian Economic Commission Emil Kaikiyev underlined that the creation of the common electricity market is an important stage in the advancement of integration processes in Eurasian space. “I would like to note that the establishment of the market is primarily intended to enable transition to market-based pricing tools, including exchange trade, and ensure fair competition,” Emil Kaikiyev said.

During the session of the Supreme Eurasian Economic Council in May 2019 the heads of state signed an international treaty on forming the common electricity market of the Eurasian Economic Union. The document stipulates the legal framework for creating the market, its operation and development. The document also mentions the bodies that will take care of managing and ensuring the operation of the market. Market players and infrastructure organizations of the market as well as ways to trade in electricity are also mentioned.