Council and European Parliament negotiators reached an agreement. interim agreement on electricity market reform what purpose Making electricity prices less dependent on fossil fuels to protect consumers.
The measures include allowing Member States to specifically support the purchase of new renewable energy production through power purchase agreements (PPAs) when conditions permit, and establish the criteria for declaring a crisis due to high prices.
Both institutions discussed the possibility of reducing electricity prices for vulnerable and disadvantaged customers, implementing protection against blackouts and incorporating provisions to prevent “unnecessary” distortions in the market.
The text agreed upon between the parties in Strasbourg this Thursday, must now be officially approved and accepted by both institutions. Supporting this reform has been one of the priorities of the Spanish Presidency of the Council of the EU, which ends in January 2024.
“This agreement is great news because it will help us further reduce the EU’s dependence on Russian gas and promote fossil fuel-free energy to reduce greenhouse gas emissions,” said the government’s third deputy leader and Minister of Ecological Transition. The Demographic Challenge by Teresa Ribera. Likewise, he stated that thanks to the agreement, markets will be stabilized in the long term, the use of renewable and fossil-free energy resources will be accelerated, more affordable electricity will be offered to EU citizens and industrial competitiveness will increase.
Socialist MP Nicolás González Casares celebrated the agreement after “ten hours” of negotiations and emphasized that “Europe now has a socially fair electricity market design that will better protect citizens, especially the most vulnerable.” Guarantee affordable prices for citizens and companies and accelerate the energy transition.” “In addition, the Parliament has signed a market design that takes a step forward in the democratization of energy. Parliament knows how to work at lightning speed to reach an agreement that responds to the many failings exposed by the energy crisis. “Citizens have expectations,” he said.
Offer This is part of a wider reform of the design of the EU electricity marketIt includes a regulation that Twenty-seven adopted in June, focused on improving protection against market manipulation through better auditing and transparency (REMIT).