The European parliament has signed off new rules designed to improve the EU’s electricity marketplace and put consumers at the centre of the energy transition.
The conclusion of negotiations on the Clean Energy for All Europeans package is a key step in enabling the EU and its member states to facilitate the clean energy transition, follow up on the adopted 2030 climate legislation and meet Paris Agreement commitments, the European Commission said.
The European Parliament also approved the new Electricity Market Regulation and Electricity Market Directive as well as the Regulations on Risk Preparedness and on the Agency for the Cooperation of Energy Regulators.
Commissioner for Climate Action and Energy Miguel Arias Canete said: “Today’s approval of the new electricity market design will make energy markets more flexible and facilitate the integration of a greater share of renewable energy.
“I am particularly pleased that we have agreed on a common framework for capacity mechanisms that will ensure such mechanisms will be in line with our climate objectives in the future while taking into account legitimate security of supply concerns.”
The revised electricity market regulation opens up electricity markets to renewables, energy storage and demand response, while harmonising rules for capacity mechanisms.
The regulations are designed to empower energy consumers to play an active role in driving the energy transition and to benefit from a less centralised, and more digitalised and sustainable energy system.
Following parliamentary approval, the Council of Ministers of the EU will have to formally approve the texts of the directive and three regulations, after which the new laws will be published in the Official Journal of the Union.