Energy Ministers Meet to Discuss Market Design

News
11 April 2016
by European Commission

EU ministers will discuss the future design of Europe’s electricity market at the informal meeting of energy ministers.

Taking place in Amsterdam on 10-11 April, ministers are deliberating the transition of Europe’s energy markets up until 2050.

“Our energy system is changing fast. By 2030 half of all our electricity will be powered by renewables, and in about 35 years it will be carbon-free. That’s a big step up from today’s 27.5% renewables. We must prepare our electricity system, making it more flexible and market-oriented. Only then can we meet our Paris climate commitments and Energy Union goals,” said Miguel Arias Cañete, European Commissioner for Climate Action and Energy.

The European Commission’s upcoming market design initiative will be on the top of the agenda in Amsterdam. The initiative for a new market design, launched by the Commission last July, will adapt EU regulations to changes in the electricity system. This will allow for an increase in the volumes of intermittent electricity production from renewable sources and more interconnection.

The initiative will also aim at creating reliable price signals for investors, encouraging competition and easing access for new operators. The energy market should become more flexible to improve energy distribution and allow renewable power producers to benefit from the advantages of integrated markets.

The Energy Union strategy aims at moving away from a national approach to energy supply, to a more regional approach. The objective is to create a fully-functioning and interconnected energy market in the EU.

Ministers will also discuss ways to boost security of supply, and how to better empower consumers when making their energy choices.

Source: European Commission – DG Energy news