YEREVAN. – The government of Armenia on Thursday approved the bill on regional electricity trade support.

Vardan Gevorgyan, the Deputy Minister of Energy Infrastructures and Natural Resources, introduced the draft amendments to the Law on Energy.

He noted that regional electricity trade cannot develop without liberalization, and that the electricity market needs to have several companies that will compete in the purchase and sale of cheaper electricity. The official added that, for this reason, liberalization requirements and general principles should be clarified in the said law. 

Also, Gevorgyan said the respective market models should be analyzed by mid-2018, and liberalization should be completed by July 2019.

Until then, however, the single Eurasian Economic Union (EAEU) energy market shall operate.

The EAEU comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.