Unprecedented levels of global energy price increase and volatility due to the EU’s systemic dependence on fossil gas started surfacing by the end of 2021. In order to shield consumers (households, businesses and industry) and overall economies, European governments started implementing short-term energy market interventions. In the meantime a debate about the functioning of the European internal electricity market developed, with Member States and other stakeholders putting pressure on the European Commission to take action, which accelerated with Russia’s invasion of Ukraine in February 2022.
This briefing lays out CAN Europe’s vision and preliminary proposals for the reform of the internal electricity market design (EMD) on the table. It analyses the Commission’s consultation paper and questions, through the lens of CAN Europe’s three main
objectives: A Paris-agreement-compatible energy transition to achieve 100% renewables, coupled with maximum energy savings, by 2040; strong, resilient and flexible markets; affordable energy for all and just transformation. It proposes measures for the short-term, long-term/ forward and retail markets in the scope of the EMD reform.
Access the “Energy System of Tomorrow” here