Development prospects for the common electric power market of the Eurasian Economic Union

Subject. The article considers the process of integration of member States of the Eurasian Economic Union in the field of electric power. Objectives. The focus is on the analysis of the organizational and economic mechanism of the functioning of the common electric power market of the Eurasian Economic Union, taking into account the adopted regulatory legal acts. Methods. The study draws on general scientific research methods. Results. The paper determines foundations of the functioning, condition and development prospects for the common electric power market of the Eurasian Economic Union. It establishes that the possibility for participants from different countries to obtain access to the purchase (sale) of electricity within the framework of the Eurasian Economic Union contributes to increased competition, and the variety of methods of electricity trade enables to ensure transparency of pricing in interstate supplies. Conclusions. The functioning of the common electricity market of the Eurasian Economic Union, which complements the domestic markets of Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan, will be regulated by supranational rules for electricity trade, taking into account the specifics of the economic development of each country.