23 January 2023 (TREND News Agency) BAKU, Azerbaijan, The European Commission is launching a public consultation on the reform of the European Union's electricity market design, Trend reports Jan.23 with reference to the Commission.
The aim is to better protect consumers from excessive price volatility, support their access to secure energy from clean sources, and make the market more resilient.
The consultation will run until 13 February and focuses on four main areas:
- Making electricity bills less dependent on short-term fossil fuel prices, and boosting the deployment of renewables;
- Improving market functioning to ensure security of supply, and fully utilise alternatives to gas, such as storage and demand response;
- Enhancing consumer protection and empowerment;
- Improving market transparency, surveillance and integrity.
The European Council has called on the Commission to work swiftly on the structural reform of the electricity market, with the dual objective of securing European energy sovereignty and achieving climate neutrality. The planned reform of the electricity market design was announced by President von der Leyen in her annual State of the Union Speech last year and is included in the Commission's 2023 Work Programme. The outline of an improved electricity market design was presented to Ministers by Commissioner for Energy Kadri Simson at the Energy Council on 19 December.