Belarus announces the date of unification of the energy market with Russia

Energy Minister of Belarus Viktor Karankevych said that the integrated electricity market of Belarus and Russia would start working on January 1, 2024.

He announced this at a press conference in Minsk, the press service of the Ministry of Energy of Belarus reports.

“Following the program... the integrated electricity market of the Union State will start working on January 1, 2024. From that moment on, the mechanism of trade between the authorized entities of our countries will become effective,” the minister explained.

The Ministry of Energy also said that from January 1, 2027, a transition to deeper integration in the electric power sector is envisaged, which implies a convergence of business conditions for market participants.

To recap, Belarus will cover the damage from the sanctions with cheap Russian gas.

Earlier, Belarus said that the roadmap for the creation of a single gas market with Russia was ready.