Just in the last few hours, the proposal to change the rules governing the EU electricity market has been published: a series of structural measures to protect against the effects of the energy crisis in the long term, through a series of legislative acts.

As the EU executive itself admits, despite initial resistance, this is a must: ‘The crisis has revealed several shortcomings in our market framework, in particular the exposure of consumers and industries to energy price spikes,’ the Commission explains. The high degree of volatility, related to the still prominent role of fossil production in setting electricity prices, has in fact highlighted a number of technical bottlenecks for the EU market in recent months.

It also includes measures to accelerate the deployment of renewables and the phase-out of gas, improving the conditions for the use of flexibility solutions and accelerating the start-up of multinational offshore renewable projects in Europe’s different sea basins.

Today, the Commission proposed to reform the EU electricity market framework to accelerate the deployment of renewables and the phase-out of gas, reduce the dependence of bills on fossil fuel price volatility, better protect consumers from future price hikes and potential market manipulation, and make the EU industry clean and more competitive.

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Sources: renewables.co.uk, ec.europa.eu