European Commission launches public consultation on reform of Electricity Market Design

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Today, the European Commission is launching a public consultation on the reform of the European Union's electricity market design to better protect consumers from excessive price volatility, support their access to secure energy from clean sources, and make the market more resilient.

The current system has delivered an efficient, well-integrated market for many years, allowing the EU to reap the economic benefits of a single energy market, ensuring security of supply and spurring the decarbonisation process. However, the system has also demonstrated some shortcomings. In the current crisis of high and volatile electricity prices, the economic burden has been pushed on to final consumers. A reform is therefore needed to better shield households and businesses from high energy... ... More: Official Press Release European Commission

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EU, European Commission, electricity market, reform, consultation, public, support, energy transition, renewable energy, Europe, economy