Accord should help enhance the exchange of information and raise transparency of Russian electricity markets
22 June 2012
International Energy Agency (IEA) Executive Director Maria van der Hoeven signed an accord with two leading entities in the Russian power sector to share data and best practices in order to improve electricity production and distribution in Russia.
General Director Igor Kozkukhovski signed the Memorandum of Understanding for the Moscow-based Energy Forecasting Agency (EFA), which monitors the Russian electric power sector, on the sidelines of the Saint Petersburg International Economic Forum.
Chairman of the Board Oleg Budargin signed for the Federal Grid Company of the Unified Energy System (FGC), a leading grid operator.
Under the three-year renewable accord, the EFA and FGC will provide the IEA with data and information to help the IEA study Russia’s electricity sector. That study will allow the organisations to share best practices for developing and deploying new energy technologies, including efficiency improvements, clean-coal power production, renewable energy and smart meters and grids.
The co-operation will build on Russian efforts to improve and expand domestic electricity markets with transparent price signals based on a legal and regulatory framework that can attract greater investment.
“I am very pleased to see the IEA expanding its partnerships with key Russian organizations integrally involved in the modelling and analysis of domestic energy markets,” said Ms. Van der Hoeven, Executive Director of the IEA. “This should help enhance the exchange of information and raise transparency of Russian electricity markets.”
Director General Igor S. Kozhukhovski, who signed for the EFA, said, "I am happy to see an MoU signed with the IEA and see this as a reflection of all the good work we have already done together. By facilitating international cooperation development in the sphere of energy, this memorandum will enhance the Russian electricity market."
The IEA will allow both Russian entitites access to the Agency’s Electricity Information Online Data Service, and the organisations will hold joint conferences and training programmes. The EFA and the IEA will also provide expert peer reviews of each other’s studies and publications.