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EAEU countries ensured a breakthrough in resolving differences on the formation of the Union’s common electric power market

EAEU countries ensured a breakthrough in resolving differences on the formation of the Union’s common electric power market

4/23/2019
The development of the common electric power market of the Eurasian Economic Union (EAEU) was discussed at the headquarters of the Eurasian Economic Commission (EEC) under the leadership of the Chairman of the Board of the Eurasian Economic Commission Tigran Sargsyan. The countries have reached consensus on the latest disagreement. “The creation of the common electric power market will allow establishing transparent market prices for electricity for consumers and will contribute to the economic growth of the Eurasian “five” countries”, Tigran Sargsyan noted. The meeting was attended by the Member of the Board – Minister in charge of Energy and Infrastructure of the EEC Emil Kaikiev, Minister of Energy of the Russian Federation Alexander Novak, Minister of Energy of the Republic of Belarus Viktor Karankevich and the Heads of competent authorities of the EAEU Member States. The agreements reached will allow approaching the implementation of the Union’s common electric power market within the time limit set by the Treaty on the EAEU. Following the results of the meeting, the parties reached a conceptual solution and settled the last difference in the international Treaty related to the delimitation of competitive and natural monopoly activities in the national electric power markets. The elimination of this matter-of-principle disagreement on this fundamental issue will pave the way for shaping the EAEU’s common electric power market. The document is scheduled to be submitted for signing by the Members of the Supreme Eurasian Economic Council in May this year.