The European Commission has proposed to reform the EU’s electricity market design in a move to accelerate the uptake of renewables.
The reform which is part of the EC’s Green Deal Industrial Plan aims to enhance the competitiveness of Europe’s net-zero industry and offer better stability of price electricity, which has been one of the main concerns coming from European solar manufacturers in order to be able to play at a level-playing field with other countries.
Several legislations will be reformed, including the Electricity Regulation, the Electricity Directive and the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) Regulation while introducing measures to incentivise longer-term contracts with non-fossil power production.
The EC will aim to reflect the lower cost of renewables, which could boost even further the installation rate of solar PV as the EU aims to deploy 740GWdc of solar PV by the end of the decade, as part of its REPowerEU strategy released last year.
Kadri Simson, EU commissioner for Energy, said: “We are today proposing measures that will enhance the stability and predictability of energy costs across the EU. Driving investment in renewables will help us reach our Green Deal goals and make the EU the powerhouse of clean energy for the coming decades.”
[Jonathan Tourino Jacobo]
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