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,
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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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