09:45 GMT +318 August 2018
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    CIS members agree on common electricity market

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    TBILISI, October 27 (RIA Novosti) - The CIS Electricity Union member states agreed during a Thursday session in the Georgian capital to create a common electricity market, according to the head of the Russian electricity monopoly.

    "The decision to create a common CIS electricity market is productive. Market relations between us must be regulated," Unified Energy System CEO Anatoly Chubais said.

    According to Chubais, the Russian electricity giant wants to further invest in the Georgian economy, particularly, in the construction of the Khudoni hydropower plant.

    Georgia halted construction on the hydropower plant in the late 1980s when it was only 30% complete. Georgia needs more than $500 million in investment to finish the plant's construction.

    Chubais also said he would discuss the results of the council's session and bilateral energy issues with Georgian President Mikhail Saakashvili.

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