The European Union has agreed to reform the energy market of the market in the bloc in order to accelerate the deployment of renewable energy sources and curb the volatility of electricity prices during the electricity prices during the energy transition. This is reported by UNN with with reference to Bloomberg.
Details
According to the Minister of for the Environmental Transition of Spain, Teresa Ribera, whose country holds the EU presidency on a rotating basis, thanks to this agreement, the EU will be able to offer more affordable electricity to EU citizens.
Thanks to this agreement, we will be able to stabilize long-term markets, accelerate the deployment of renewable and non-fossil energy sources, offer more affordable electricity to EU citizens and increase the competitiveness of industry,
Adoption of the law will provide legal certainty for ongoing projects, and the three-year transition period will last for three years, allows to solve the problematic issues that divided France and Germany. and Germany, such as harmonizing the rules of contracts for differences.
It is believed that the proposed law is able to strengthen measures to protect the most vulnerable consumers, in in conditions when the aggression of the Russian Federation against Ukraine has "turned" the gas and energy and energy markets in the EU. To enter into force, the agreement must be approved by EU ministers and and the European Parliament plenary, Bloomberg writes.
According to the Secretary General of Eurelectric Secretary General of Eurelectric Christian Ruby, the proposed reform is a significant step forward by offering investors certainty through long-term contracts, and ensuring consumer protection through more stable electricity prices.
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Appendix
The next five years will change the EU's climate and energy agenda.
Today, electricity accounts for about electricity accounts for about 23% of energy consumption in Europe, while the EU is working hard to decarbonize. However, the economy is still predominantly is still predominantly powered by fossil fuels.
Challenges such as Russia's war against Ukraine, rising geopolitical tensions, and industrial competitiveness are putting energy security back at the center of the EU's agenda. EU AGENDA. In this sense, the importance of accelerating electrification is strongly mentioned.
Electricity is now not only a solution to the climate crisis, but also an important means of ensuring Europe's energy independence through home, clean and renewable generation
It is also proposed that consumers should be given the opportunity to take a more active part in the decarbonization of Europe. The next Commission should facilitate consumer participation in the transition by promoting the adoption of smarter, more energy-efficient electrical technologies, writes finance yahoo.
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