Colombia, Peru and Ecuador have signed an agreement aimed at unifying their national electricity grids, Colombia’s Energy and Mines Ministry said.

Under the accord, signed on Saturday by energy ministers in the Colombian city of Cartagena, the three countries will work to harmonize laws and regulations and to allow for fair competition in what they hope will become a regional energy market, the ministry said in a news release.

Venezuela, which sent a representative to the meeting, will consider whether to join the agreement.

Colombia and Ecuador have signed an agreement for a 230 000-volt power line between the southern Colombian city of Pasto and Ecuador’s capital Quito to be ready by January 2003. Peru and Ecuador are studying a three-phase grid interconnection project to allow for the transfer of up to 250 MW of power.