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10 November 2022, 13:56

Belarus-Russia joint electricity market to start working on 1 January 2024

MOGILEV, 10 November (BelTA) – The joint electricity market of Belarus and Russia is supposed to start working on 1 January 2024. The date was mentioned at a session of the Energy and Transport Commission of the Parliamentary Assembly of the Union State of Belarus and Russia in Mogilev, BelTA has learned.

One authorized Belarusian commercial entity and a similar Russian one will be able to sell and buy electricity during the first stage. The Belarusian-Russian electricity market has to be synchronized with the operation of the Eurasian Economic Union electricity market starting 2025. Deeper integration will be implemented starting 2027. More market participants will be present then.

Each stage will be preceded by serious work on harmonizing and unifying national legislations, on implementing market operation mechanisms into state and industry-specific programs.

Belarusian Energy Minister Viktor Karankevich said: “Your proposals on preparing the relevant bills are important, including an evaluation of their regulatory impact on the development of the domestic markets taking into account national interests of each side. In order to promptly detect and resolve issues concerning legal regulation, it is advisable to organize proper legal monitoring in the abovementioned areas.”

Taking part in the Energy and Transport Commission's work were representatives of the Standing Committee of the Union State of Belarus and Russia, representatives of Belarusian and Russian government agencies, municipal authorities of Mogilev Oblast and Russia's Bryansk Oblast. Participants of the session discussed progress in developing the nuclear energy industry in Belarus and Russia, progress in setting up the joint markets of natural gas and electricity. Progress in executing the Union State budget for the year 2022 and the development of the draft budget for the year 2023 was also reviewed as well as the state and prospects of cooperation between Mogilev Oblast and Bryansk Oblast.

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