Seven EU countries call for cautious electricity market reform
(EurActiv, 13 Feb 2023) A group of seven EU countries has called on the European Commission to keep its upcoming reform of the electricity market “targeted” and focused on measures that will enable the green transition while ensuring affordable energy for consumers.
Electricity prices skyrocketed across Europe last year as Moscow turned off the gas tap in retaliation for EU sanctions imposed against Russia over its military aggression in Ukraine.
Pressed by EU governments to address this, the European Commission is currently preparing a review of EU electricity market rules, arguing that EU power markets need to be adapted to the “new realities of dominant renewables” and higher gas prices.
Spain and France were among the countries calling for a root-and-branch review of electricity market rules, but not all EU countries share this view.
In a joint letter, published on Monday (13 February), Germany, Denmark, Estonia, Finland, Luxembourg, Latvia and the Netherlands called for a cautious approach that preserves the current market setup.
“The integration of the EU electricity market over the last decade has brought enormous benefits for the EU, including lower wholesale prices, greater security of supply and enabling the large-scale integration of renewable energy,” says the joint letter.