On October 26, 2023, in Bishkek, the members of the Eurasian Intergovernmental Council approved the Rules for Mutual Trade in Electric Energy, as well as the Rules for Determining and Distributing the Capacity of Interstate Sections in the Common electric Power market of the EAEU, press service of the Ministry of Trade and Integration reports.
The Rules define procedures for participants' access to the common market, issues of concluding accession agreements, mechanisms of interaction between trade participants.
Also, the Rules establish the procedure for concluding, registering, accounting, and terminating contracts for the purchase and sale of electric energy between the EAEU member states.
Trade participants will be able to find their partners from the countries of the EAEU member states and conclude contracts for the purchase and sale of electricity in various ways.
For example, it provides for the possibility of concluding free contracts. This method involves an independent search for contractors and determining with them the terms of delivery (price, volume, schedule).
Also, it will be possible to buy and sell electricity on the platform of the operator of centralized trading on fixed-term contracts and for the day ahead on the basis of exchange mechanisms.
The principle of non-discriminatory use by participants of the capacity of interstate power transmission lines is laid down.
The adoption of the rules is necessary to reduce the economic risks of sellers and buyers of electricity, which are possible due to the technical unrealizability of transactions concluded on the common market of the EAEU.
In general, the adoption of these documents has completed the next stage of the formation of the legal framework and is one of the important measures for the functioning of the common market.
The common market should ensure stability in the energy sector of the region, which is necessary for the economic development of the EAEU countries.
The effect of the creation of a common market will be reflected in an increase in the efficiency of the use of generating and transmitting capacities, an increase in the volume of mutual and foreign trade in electricity.
Thus, for Kazakhstani companies, the formation of The common market will increase the volume of mutual electricity trade in the EAEU, increase the level of energy security, non-discriminatory access to interstate transmission of electric energy (capacity) in electricity trade.
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