Parliamentary agreement for the reform of the European electricity market

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The four large groups of the European Parliament (popular, socialists, liberals and greens) reached an agreement this Thursday on the reform of the electricity market. Under this pact, which is expected to be approved by the parliamentary committee within two weeks, states are obliged to prohibit power cuts to the most vulnerable consumers. The European Parliament is making progress on the electricity market proposal and they hope that by the September plenary session it will be able to vote on its position and sit down to negotiate with the member states. It will not be easy, since the latter failed in his attempt in mid-June. The agreement planned by the parliamentary groups protects the protection of the most vulnerable consumers, in which states must prohibit power cuts.

In the event of a price crisis – such as the one that occurred last summer – the Commission will have the obligation to declare it and take the appropriate measures. If activated, a cap – similar to the existing one – of 180 euros Job Function Email Database per megawatt-hour will be activated. Kadri Simson, Energy Commissioner Valeria Mongelli/Bloomberg The MEP in charge of the report, the Spanish socialist Nicolás González  had presented a limit to the benefits fallen from the sky of what are known as inframarginal technologies, the cheapest ones, such as renewables or nuclear.



The vast majority of groups did not like the idea – especially the popular ones, who feared that it would investment” – and in the end this is not part of the pact. In any case, they ask the Commission to "by June 2024 at the latest" study the introduction of a mechanism that could temporarily limit income in some way. Finally, as Spain has always defended, more importance will be given to storage, and a proposal for the storage of electricity generated with non-fossil energy will be requested from the European Commission no later than.