Creation of a single energy market of the Eurasian Economic Union (EAEU) will give the countries of the region the opportunity to help each other, if necessary. Minister of the Eurasian Economic Commission in charge of Energy and Infrastructure Arzybek Kozhoshev told journalists on the sidelines of the International Energy Forum of the EAEU member states.
According to him, the Eurasian Economic Commission is actively working to form a single energy market of the EAEU. It should start working from January 1, 2025. To date, the basic regulatory legal acts have been formed, energy rules have been prepared, and a set of measures is being discussed that the countries of the Union must approve.
«For example, today the energy capacity in Russia is twice as high as consumption. The opposite is true in Kazakhstan and Kyrgyzstan. There were big problems with energy this winter. If we make a single system, then the EAEU countries could help each other. In addition, we will be able to sell electricity on market terms. A special exchange will be created for this,» said Arzybek Kozhoshev.
«The rules of the EAEU are such that decisions are made only with the consent of all parties. Therefore, there are points that have not yet been agreed upon. The issue who will be the market regulator is discussed now. We have not yet come to a consensus. But in general, there is an understanding of the importance of a single market in the countries of the Union. The top leadership represented by the presidents of the EAEU in December 22 announced that the countries of the Union would move towards rapprochement. The energy issue is one of the fundamental ones,» he concluded.
