Standardisation of energy products: NSSMC adopts European experience

The National Securities and Stock Market Commission, together with the National Commission for State Regulation of Energy and Public Utilities, took part in a workshop organised by the Energy Community. This is an international organisation that brings together the European Union and its neighbours to create an integrated pan-European energy market.

The key topic of the workshop was the standardisation of energy products in the work of both regulators. The European colleagues spoke about their work mechanism, rules and principles of the EU internal energy market. A separate topic was the sectoral and institutional aspects of standard energy contracts.

Standardisation of energy products is a key aspect for clearing on commodity markets, and the latter will make markets much safer and have a positive impact on their liquidity.

The NSSMC continues to improve and implement the world’s best mechanisms for regulating the energy market and to improve the skills of its specialists in this area.

Last year, Ruslan Magomedov, Chairman of the NSSMC, and representatives of the NERC signed an agreement to cooperate and strengthen interaction between the institutions. Thus, such initiatives contribute to more effective cooperation between regulators, better delineation of their areas of competence, as well as to increasing transparency and healthy competition in the energy market of our country.