The energy ministers of the European Union (EU) could come to a agreement next Monday to approve the guidelines of a reform of the bloc’s electricity marketsaid a French Energy Ministry official.
France hopes that the agreement will be based on the recognition by the European Commission of the role of the nuclear energy in a recent law on renewable energy.
He European Council of Energy Ministers meets next monday to debate the reformwhose objective is strengthen resistance to price spikes such as those registered after the Russian invasion of Ukraine last year.
“There is a shared will to develop a general roadmap in the Council on June 19”declared this Saturday an official of the cabinet of the Minister of Energy, Agnes Pannier-Runacher.
What is the reform of the EU electricity market?
It is expected to use system of “contracts for difference” or CFDs, as well as to long-term electricity contractsfor a broader agreement intended to reduce price volatility and lower prices for consumers.
Among the issues that remain to be discussed appear whether CFDs should be mandatory or notif they can be used for existing power plants, the implementation of new production units in case of energy crisis and capacity mechanisms.
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Courtesy: EDF Solar
The EU ambassadors agreed last Friday on a historic law on renewable energy after the Commission agreed to exempt certain ammonia plants from renewable fuel targets.
The deal broke a deadlock after France and some Eastern European countries with interests in nuclear energy pushed for the bloc’s laws to support hydrogen produced from both renewable energy and nuclear energy.
Source: Ambito
