MINSK, Oct. 27 (Xinhua) -- The energy ministries of Belarus and Russia signed an agreement on Tuesday approving the rules for operating the Union State's common electricity market.
The signing took place during the 30th Belarusian Energy and Environmental Forum.
All procedures have been completed, and the parties expect to begin operations next year, enabling the two countries to exchange electricity to meet each other's needs, said Russia's Deputy Energy Minister Evgeniy Grabchak.
According to Grabchak, pricing will be shaped by competition, but no price hikes are expected as the market favors the most cost-effective solutions.
