Press release - Parliament adopts reform of the EU electricity market

- EU electricity market will be more affordable and consumer friendly

Metadata
Provider: 
European ParliamentEuropean Parliament
URL: 
https://www.europarl.europa.eu/news/en/press-room/20240408IPR20316/https://www.europarl.europa.eu/news/en/press-room/20240408IPR20316/
Retrieved on: 
Thursday, April 18, 2024
Information
Tags: 
Electricity, CFD, COVID-19, S&D, MEP, Parliament, Council, Investment, Nuclear energy, Vulnerable, SME, Legislation, Renewable energy
Geotags: 
ES, UKRAINE, EU
Summary
Key Points: 
  • - EU electricity market will be more affordable and consumer friendly
    - “Contracts for Difference” to encourage energy investments
    - Vulnerable customers will be protected from having their electricity cut off
    - EU will have power to declare regional or EU-wide electricity price crisis
    The reform adopted on Thursday will make the EU electricity market more stable, affordable, and sustainable.
  • MEPs also secured that EU countries can prohibit suppliers from cutting the electricity supply of vulnerable customers, including during disputes between suppliers and customers.
  • Quote
    “This reform puts citizens at the forefront of electricity market design.
  • The Parliament has taken a step forward in democratising energy, creating a market design that responds to the failures exposed by the energy crisis.
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