The European Parliament has agreed to adopt the Clean Energy for All Europeans package, designed to update and upgrade the EU’s electricity market.
The EU clean energy package was provisionally approved by the European Parliament, Council and Commission in December 2018; and was designed to make the EU’s electricity greener, more reliable and more competitive. MEPs approved four laws:
- Consumers to benefit from dynamic pricing arrangements, smart electricity meters and the ability to switch their electricity provider at no extra charge within three weeks;
- Member States accorded the ability to regulate energy prices for temporary periods to protect vulnerable households;
- At least 70 per cent of international energy trade to have the capacity to cross borders freely, facilitating the cross-border trade of renewable energy; and
- State aid for power plants relying on fossil fuels to be phased out.
Commissioner for Climate Action and Energy Miguel Arias Cañete said: “I thank the European Parliament for its strong support for the clean and fair energy transition, taking the EU a step closer towards delivering the Energy Union with citizens at its core, one of the key priorities President Juncker set out for this Commission. 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. An integrated EU energy market is the most cost-effective way to ensure secure and affordable supplies to all EU citizens. 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.”
Jerzy Buzek, rapporteur on the internal market for electricity, said: “The reform of the EU electricity market should make it more competitive across EU borders and support the transformation to cleaner electricity. It gives more power to consumers and protects the energy-poor. It is good for the environment and good for the wallet.”
Pending approval by the Council of Ministers of the EU, the Clean Energy for All Europeans package will pass into law later this year. Member States will then have 18 months to integrate the new rules into their national laws.
