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Renewables boost, long-term contracts key in EU electricity market design reform published today

( March 14, 2023, 13:36 GMT | Official Statement) -- MLex Summary: Accelerating renewables integration into the power market and supporting the uptake of long-term contracts are two key aspects of the EU electricity market design reform published by the European Commission today. Power prices-based public support to new investments in nuclear and renewable energy capacity will have to take the form of contracts for difference, which are two-way reimbursements-based deals setting both a minimum guaranteed price to generators by the state and a maximum price limit. The reform will also try to enhance the functioning of EU forward markets; create new rights for consumers; and improve the flexibility of the power system thanks to demand response and storage.Press release, Q&A, Regulation attached....

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