Business news

SKOLKOVO, 27 October (BelTA) - Belarus believes that a common electricity market in the Eurasian Economic Union is possible once the prices for gas are leveled, Belarus’ Deputy Energy Minister Leonid Shenets said when speaking at the roundtable “Prospects for development of the common energy markets in the Eurasian Economic Union (EEU)”. The event was held at the Eurasian Week exhibition forum in Skolkovo on 27 October, BelTA has learned.

Leonid Shenets noted that Belarusian consumers pay for gas 2.5 times more than Russian enterprises. Meanwhile, the share of fuel in the electricity generation costs reaches 70%.

Belarus has been consistently working on promoting energy efficiency. In 2015 the country used 1.8 million tonnes of fuel equivalent less than in 1990. Moreover, Belarus has built a stringent energy saving system which covers all sectors of the national economy, Leonid Shenets stressed.

Participants of the roundtable discussed the benefits and efficiency of the EEU common energy markets, the interest of business in the development of such markets, role and place of the regulation in the development of the competitive energy markets of the Eurasian Economic Union.