As part of the Energy Union strategy, the European Commission yesterday presented proposals to deliver a new deal for energy consumers, to launch a redesign of the European electricity market, to update energy efficiency labelling and to revise the EU Emissions Trading System.
The package is an important step towards implementing the Energy Union strategy with a forward looking climate change policy, launched as one of the political priorities of the Juncker Commission in February 2015.
The Energy Union strategy is designed to help deliver the EU’s 2030 climate and energy targets and make sure that the European Union becomes the world leader in renewable energy, the Commission stated. Achieving these goals will require a fundamental transformation of Europe’s electricity system including the redesign of the European electricity market.
A Public Consultation period has been launched on what the new electricity market design should look like in order to meet consumers’ expectations, deliver real benefits from new technology, facilitate investments, notably in renewables and low carbon generation; and recognise the interdependence of European Member States when it comes to energy security.
This should reap maximum benefits from cross-border competition and allow decentralised electricity generation, including for self-consumption and support the emergence of innovative energy service companies, the Commission concluded in a press release.
Image: EU Commission