Parliament of Kazakhstan approves amendments on the EAEU common electricity market

The building of the Parliament of the Republic of KazakhstanALMA-ATA, Feb. 17 Deputies of the senate (upper house) of the parliament Kazakhstan at a plenary meeting on Thursday approved the ratification of the protocol on amending the treaty on the Eurasian Economic Union (EAEU), dedicated to the formation of a common electricity market (CEM) of the union, RIA Novosti correspondent reports. Earlier, the committee on ecology and environmental management of the Mazhilis (lower house) of the parliament Kazakhstan reported that the purpose of the protocol is to create a common electricity market of the EAEU by integrating the national electricity markets of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, while maintaining a balance of economic interests of producers and consumers of electricity, as well as other subjects of the Union's OER. Minister of Energy of Kazakhstan Bolat Akchulakov previously noted that when creating the OER, the parties agreed to implement cooperation on the basis of equality, mutual benefit and not causing economic damage to any of the member states. In addition, the parties intend to prioritize the use of mechanisms based on market relations and fair competition. According to him, the formation of a common market of the union opens up opportunities for economic entities of the member states to trade electricity among themselves within the framework of concluded agreements. electricity trade. It is also expected that competition among energy-producing organizations will increase. The law adopted by the parliament has been sent for signature to the head of state.