Assessment approaches the common electricity market of the Eurasian economic union functioning

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Abstract

The system of adopted legal acts on the common electricity market of the Eurasian economic union (EAEU) is formed brings closer its start and the possibility of participants from different EAEU Member States to sell and buy electricity. The decision of the Supreme Eurasian Economic Council of December 20, 2019. 31 provides for the adoption of the procedure for monitoring the functioning of the Common Electricity Market of the Eurasian Economic Union by January 1, 2026. At the same time, the approaches to the analysis of the work and efficiency of the market have not yet been determined. The aim of the study is to identify approaches to assessing the functioning of the common electricity market and related indicators. Based on the national approaches of the EAEU Member States to assessment of energy security, the article offers approaches for monitoring the functioning of the future common electricity market and relevant indicators, formed in groups on the basis of their influence on energy self-sufficiency, security of supply, energy efficiency of final consumption of fuel and energy resources and economic sustainability, energy security and efficiency of electricity trade for its development within the EAEU. The study also compiled a system algorithm for monitoring compliance with the performance indicators of the common electricity market, taking into account the energy security and economic sustainability of the “Eurasian Five” countries. The results of the monitoring algorithm can be useful for the development of high-quality and effective mechanisms of the common electric power market of the EAEU during its operation. The proposals formed on the basis of the results obtained based on the results of monitoring will help to form a balanced and regulated common electricity market of the EAEU.

About the authors

Nikolay N. Shvets

MGIMO University

Author for correspondence.
Email: nns56@mail.ru
ORCID iD: 0000-0002-3914-922X
SPIN-code: 9898-9715

Doctor of Economics, Professor, Head of the Department of World Electric Power Industry of International Institute of Energy Policy and Diplomacy

76 Prospect Vernadskogo, Moscow, 119454, Russian Federation

Daria A. Melnik

Eurasian Economic Commission

Email: d.melnik@eecommission.org
ORCID iD: 0000-0003-1376-0933
SPIN-code: 8243-9438

Candidate of Economic Sciences, Advisor of the Energy Department

3/5 Smolensky Boulevard, bldg. 1, Moscow, 119121, Russian Federation

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Copyright (c) 2024 Shvets N.N., Melnik D.A.

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