QAZAQ GREEN.  Draft rules for the functioning of the common electric power market are ready for consideration by the bodies of the Eurasian Economic Union, the press service of the Eurasian Economic Commission reports.

The statement was made following the results of the meeting of the advisory committee on the electric power at the Collegium of the Eurasian Economic Commission on August 24 in Cholpon Ata (Kyrgyzstan) during which the representatives of the authorized bodies in the sphere of energy and the leading energy companies of the Eurasian Five discussed the establishment of the regulatory framework for the common electric power market of the Eurasian Economic Union.

A significant number of uncoordinated provisions were resolved at the meeting. Two draft documents included in the package of rules for the functioning of the common electric power market have been prepared for adoption and approval at a high level. The draft rules of mutual trade in electricity are at a high level of readiness, said Vadim Zakrevsky, Director of the Department of Energy of the Eurasian Economic Commission.

The Advisory Committee approved the draft rules of definition and distribution of interstate cross-section capacity on the common electric energy market of the EEU. The draft document will be considered at a meeting of the EEC Board in September.

"Also at the meeting the draft rules of access to services for interstate transmission of electric energy (power) within the common electric energy market, except for the issue related to the conclusion of contracts for non-trade interstate transmission, if the parties have disagreements on its terms - it will be considered by the EEC Board," - clarified the press-service.

The draft rules of mutual trade in electricity regulated the issue of the currency of trade in the common market of the EEU. "The parties have agreed that during the centralized day-ahead trade and futures contracts the bidding and fixing of electricity prices will be done in the currency of the member state in whose jurisdiction the centralized trade operator operates," explained in the EEC.

"The quickest agreement on all documents regulating the functioning of the common electricity market will allow organizing free trade in electricity within the timeframe set by the presidents of the Eurasian Five," said Director of the EEC Energy Department Vadim Zakrevskiy, summing up the event.

The EEC Council should identify operators of such trading to organize centralized electricity trading in the common market. It should be noted that Belarus, Kazakhstan and Russia have already offered their trading platforms to work on the common electric energy market of the EEC. They are the Belarusian Universal Commodity Exchange, the Kazakhstan Electricity and Capacity Market Operator, the St. Petersburg International Mercantile Exchange and the Russian Trading System Administrator. The corresponding draft decree of the EEC Council has been prepared and agreed by the EEU countries' energy ministers and submitted for consideration by the EEU bodies.