The common electricity market of the Eurasian Economic Union (EEU) will be established on July 1,2019, which provides for mutually beneficial cooperation of power systems of five member countries with preservation of national electricity markets. The Agreement on the EEU provides for further structured convergence and harmonization of regulatory and legal provisions of member states. The Concept for formation of Common Electricity Market of Eurasian Economic Union (CEM EEU) was approved on May 8, 2015 in Moscow city by the decision of Supreme Eurasian Economic Council (No. 12)
In order to implement the Concept, during 2016, the member states developed a draft program for formation of CEM EEU, which provides an action plan for introduction of the common market with development of relevant regulatory documents. At present, the Program for formation of the CEM EEU is at approval stage. Member states will develop and adopt an International Treaty on formation of the CEM EEU on the basis of approved Concept and the Program for Formation of the CEM EEU.
New opportunities in this area are connected with the emergence of an additional export market – Russia and Belarus, as well as the possibility of supplying electricity from Central Asia countries to the countries of Eurasian Economic Space