EAEU approves launch of common electricity market from Jan 1, 2027, on basis of bilateral contracts

MINSK. Oct 2 (Interfax) - The Eurasian Intergovernmental Council approved an adjustment to the rules for the functioning of the Eurasian Economic Union's (EAEU) common electricity market on Friday so that it would be launched at the first stage in the form of trade under bilateral contracts, the Eurasian Economic Commission (EEC) said following a meeting of the Intergovernmental Council.

"From January 1, 2027, trade in electricity will be carried out under free bilateral contracts without centralized trading at the first stage," the EEC said.

The corresponding changes were made by the heads of government of the EAEU member states to the rules for mutual trade in electricity, the rules for exchanging information, and the rules for determining and distributing the throughput capacity of interstate sections.

"Work on implementing subsequent stages of the development of the electricity market, related to centralized trading, will be continued," the EEC said.