E3G and FSR hosted an online debate on the EU’s electricity market design on Wednesday, 30 March. Speakers discussed the European Council decision and the Commission’s RePowerEU communication to cut EU’s energy dependency on Russia and to deal with the energy price crisis. How can the EU’s electricity market adapt to ensure energy security, affordable prices for consumers and climate neutrality by 2050?
The Versailles European Council has agreed to phase-out EU dependency on gas supplies from Russia, mandate minimum gas stocks, and make an unprecedented push to rapidly increase sustainable EU-produced energy, notably renewable electricity, biogas, hydrogen, and a more flexible and efficient energy system overall.
The Commission has published its RePowerEU Communication, giving guidance to the Member States on the measures that can be taken to deal with very high energy prices, and outlining targets for new RES capacity.
The Commission has indicated that it will consider putting forward measures to reform the current ‘marginalist’ electricity market design during an emergency period and to share proposals for energy market design in the context of changing energy realities and EU climate targets by mid-May.
Seen collectively, this change represents the greatest and most difficult change in EU energy policy that we have ever seen.
Agenda of the event – Rethinking the EU’s electricity market
Andris Piebalgs, FSR
Christopher Jones, FSR
Vilislava Ivanova, E3G
Panel discussion moderated by Lisa Fischer, E3G
Nicola Rega, Cefic
Eva Chamizo Llatas, Iberdrola
Kavita Ahluwalia, Uniper (TBC)
Michael Vila, SmartEN
Vera Brenzel, Tennet
Oscar Arnedillo, NERA Economic Consulting