EU Reforms Internal Electricity Market to Boost Renewables and Energy Efficiency
Belgium, (Brussels Morning Newspaper) In politics, sometimes there are telltale signs of where things are headed. Such is now the case for the EU’s upcoming electricity market reform.
Over the past weeks, noises coming both from Brussels and EU capitals all point in the same direction: the reform of the EU’s electricity market will focus on long-term contracts for clean power generation – whether renewable or nuclear.
The European Union has unveiled new measures to reform its internal electricity market in a bid to boost renewable energy and improve energy efficiency.
The reforms aim to create a more competitive and integrated electricity market across the EU, with the goal of increasing the share of renewable energy in the power mix and reducing greenhouse gas emissions.
Under the new rules, national governments will be required to remove barriers to cross-border electricity trading and to develop plans for increasing the share of renewables in their energy mix. The reforms also seek to strengthen consumer rights and improve transparency in the market.
One of the key elements of the reforms is the establishment of regional operational centers to coordinate the management of the electricity grid across the EU. These centers will be responsible for ensuring the security of supply and promoting the integration of renewable energy sources.
In addition, the reforms will encourage the development of energy storage systems, demand response mechanisms, and other innovative technologies that can help to balance the electricity grid and reduce the need for fossil fuel-fired power plants.
The EU hopes that the new measures will help it to achieve its climate and energy goals, including a target of at least 32% renewable energy by 2030 and a 55% reduction in greenhouse gas emissions by 2030 compared to 1990 levels.
The reforms have been welcomed by environmental groups and renewable energy industry associations, who see them as a positive step towards a cleaner, more sustainable energy system.
However, some national governments and energy companies have raised concerns about the costs and practicalities of implementing the reforms, particularly in countries with less developed electricity markets and infrastructure.
The reforms are expected to be gradually implemented over the coming years, with the first measures taking effect in 2021.
MEP Morten Petersen (Det Radikale Venstre, Denmark), Vice-Chair of the Committee on Industry, Research and Energy (ITRE), said:
“We still don’t have an internal market for energy, and there is a long way to go before cheap, green electricity can flow freely across Europe’s border. We need to quickly boost the integration of renewables in our energy systems, and use this platform to set us free from Putin’s gas. We will put importance on creating energy security and price stability for European citizens and businesses, as well as security for the investors waiting to invest in Europe’s promising renewable energy potential.”
