A trilateral Agreement signed under the frame of the Exchange Committee
On 27 December 2016, commercial infrastructure associations and organizations on the gas and electric power markets – the Exchange Committee, the “Market Council” Non-Profit Partnership and the “System operator of the Unified Energy System” JSC met at the Federal Antimonopoly Service (FAS Russia) to sign an Agreement.
The purpose of the Agreement is cooperation in the part of devising proposals on interconnected development of organized (exchange) markets of gas, oil products, electric power and capacity. The parties agreed to jointly endeavour to improve the mechanisms of establishing representative price indicator on the markets based upon the outcome of organized (exchange) trading, monitoring prices in the off-exchange segment, developing commercial balancing mechanisms for the gas and electric power markets.
Deputy Head of FAS Anatoly Golomolzin emphasized: “Production cycles in the electric power industry and fuel sectors (gas, coal and fuel oil) are closely connected, both technologically and economically. For instance, electric power generators are the largest gas consumers. That is why it is so important to ensure cooperation between associations and organizations of commercial and technological infrastructure of the markets of fuel-and-energy resources. The Exchange Committee works on developing commercial balancing on the gas market that will enable sustainable financing and market development. The Exchange Committee already heard the System operator on the experience of balancing electric power market. In eh near future joint proposals on coordinated commercial balancing on the gas and electric power markets will be drafted”.