Commission to rethink energy markets ahead of 2030 targets
A number of constraints are today weighing on the European energy markets with growing consumer needs on the one hand and resource scarcity, climate change and energy security concerns on the other.
It is necessary, as the current Commission has acknowledged, to start reviewing in depth the way the energy markets – and especially the electricity market – work.
The Commission will therefore on 15 July deliver its ‘Summer Package’ as a first follow up to the launch of the ‘Energy Union’, including four major legislative and non-legislative initiatives.
The revision of the Emissions Trading System (ETS), for instance, aims to tackle over-allocation issues in order to drive investment towards clean energies and help achieve the 40% target of greenhouse gases reduction by 2030 compared to 1990 levels.
The Commission will also publish a consultative Communication on electricity market design addressed to wholesale markets to be followed by legislation next year, and a Communication on retail markets in order to adapt to electricity markets’ new decentralised nature and to empower consumers.
Finally, a review of the Energy Labelling Directive will attempt to reintroduce an incentive that has been lost, as today's energy-using products tend to over-comply with the current legislation.
The ‘summer package’ will mark the beginning of a lengthy consultative and legislative process.
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Alexis is responsible for DeHavilland EU’s energy, climate and environment portfolios. A graduate of Sciences-Po Aix-en-Provence and Pace University, he joined DeHavilland EU in 2015.