Russia, Kazakhstan and Belarus develop concept of common electricity market

Photo: Russia, Kazakhstan and Belarus develop concept of common electricity market / Kazakhstan

Baku, Azerbaijan, July 9

By Elena Kosolapova - Trend:
Kazakhstan, Russia and Belarus started developing the concept of a common electricity market, which is planned to be launched in 2019, Novosti-Kazakhstan reported.

A meeting of Eurasian Economic Commission's Consultative Committee for Oil and Gas chaired by EEC Minister of Energy and Infrastructure Danial Akhmetov took place in Almaty on July 9, where the issue of the common electricity market was discussed.

"The concept of formation and development of the common electricity market should be submitted to the presidents by July 1, 2015. We should have the program of this market creation by January 1, 2016, and the formation of the electricity market should be completed in 2019," Akhmetov said at a press briefing after the meeting.

The three countries will consider the experience of common electricity markets operating in the Nordic countries, Central Europe and in the United States while developing the concept, he said.

"We believe that we create a system similar to European one. This model is the most suitable for us," Akhmetov said.
He also stressed that the concept will take into account the peculiarities of the electricity markets of all three countries.

EEC Minister of Energy and Infrastructure noted that Russia, Kazakhstan and Belarus have a good network of interstate transit lines which remain from the Soviet times. Moreover, they follow uniform technological standards and regulations, and this fact will facilitate creation of the common electricity market.

Akhmetov expressed confidence that the formation of a common electricity market between Russia, Kazakhstan and Belarus will be one of the catalysts for the future economic growth of the Eurasian Economic Union of these countries.

Within the common electricity market, the electricity rates for domestic consumption will be equal for residents of Belarus, Kazakhstan and Russia.

Edited by C.N.

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