The European Commission wants to reform the structure of the EU electricity market in order to increase the use of renewable energy sources, protect consumers and increase the competitiveness of the industry.
The proposed reform foresees revisions to several pieces of EU legislation – notably the Electricity Regulation, the Electricity Directive, and the REMIT Regulation. It introduces measures that incentivise longer term contracts with non-fossil power production and bring more clean flexible solutions into the system to compete with gas, such as demand response and storage. This will decrease the impact of fossil fuels on the consumer electricity bills, as well as ensure that the lower cost of renewables gets reflected in there.
Under the proposal, rules on sharing renewable energy are also being revamped. Consumers will be able to invest in wind or solar parks and sell excess rooftop solar electricity to neighbours, not just to their supplier. For example, tenants will be able to share surplus rooftop solar power with a neighbour.
The proposed reform will now need to be discussed and agreed by the European Parliament and the Council.
More information HERE
