by The European Commission’s proposal will reshape electricity markets and provide incentives to accelerate the development of renewable energy sources.
The legislative amendment may allow the sale of energy to neighbors
The proposed legislative change on the architecture of the European electricity market was presented by Energy Commissioner Kadri Simson and the main objective is to control energy prices.
Some of the measures to achieve this goal will be, for example, “price regulation”, which will be of great importance in crisis situations, but there are other kinds of measures to accelerate renewable energy sources and reduce the use natural gas in the electricity production process.
So the European Commission is thinking about making electricity more economical and the European Union much more independent, this was a lesson learned from international events.
Brussels’ expectation will be to triple clean energy production within the decade.
The proposed proposal also rewrites the rules for sharing renewable energy to allow consumers to invest in solar and wind projects and to be able to sell excess energy, for example, to neighbors and beyond to common electricity suppliers.
The molds that will make this new mechanism possible are not yet known, however it is certain that European entities will do everything to boost renewable energy sources in order to reconcile this need for energy independence.
The energy crisis in Europe has not disappeared
Energy Commissioner Kadri Simson emphasized that: “We are not yet free from the energy crisis in Europe”reminiscent of high and volatile levels that emerged from early 2022, after the “Russia’s energy war against the European Union”what “Overburdened energy consumers”.
According to Kadri Somson, the restructuring of electricity markets in the EU “will not change the price-setting mechanisms in the short-term market”, but responds to the “flaws” revealed by the energy crisis, allowing “the decoupling between electricity prices and electricity prices”. energy and natural gas”, which is really very important, the measures presented will shape the future and the European energy model.
Phasing out natural gas will be the European Union’s biggest bet and challenge in order to guard against future price increases and possible market manipulation.
The proposal put forward by the Commissioner will be debated in the European Parliament and the Council, before the possible entry into force.
“I call on Parliament to treat this file as a priority so that we can complete the legislative response to the energy crisis as soon as possible”, Kadri Thompson reiterated.
