Benefits of Belarusian-Russian common electricity market emphasized

MINSK, 2 December (BelTA) – The establishment of a Belarusian-Russian electricity market will become yet another step in the sphere of energy security of the two countries, the political analyst Aleksei Dzermant told BelTA.

Aleksei Dzermant believes the common electricity market would have a favorable impact on Belarus' and Russia's economies. It will open up new opportunities for the production sector. Belarus will be able to get energy from a larger number of sources. “Particularly since a nuclear power plant built in partnership with the Russian Federation operates in Belarus' territory. The reconciliation of tariffs and the pursuance of a common policy in the area of power engineering industry are extremely important,” he said.

The common market will allow diversifying electricity supplies. It will considerably bolster the economic sovereignty of the Union State of Belarus and Russia because transactions will rely on national currencies. The common market will enhance the Union State's security and will protect consumers from a possible foreign impact. “It is very important for our country. We will be able to reduce electricity spending, which will have a positive effect on the production sector and the economy as well as ordinary consumers. Respectively the competitive ability of our products will rise. It is extremely important in this day and age,” Aleksei Dzermant concluded.

The common market of electricity of Belarus and Russia is expected to start working on 1 January 2024.