Brussels plans to overhaul the bloc’s electricity market to prioritise cheaper renewable energy, European Union’s energy commissioner Kadri Simson has said, despite industry warnings that the reforms could smother investment in wind and solar projects.
The European Commission was under “very strong political pressure” to redesign the market to cut bills for consumers as the EU battles its most challenging energy crisis for decades, Simson said.
The commission was exploring how to bring the “benefits of a larger share of renewables” to consumers. “We will also need gas-fired power plants, but we don’t want to create a system where they will be in operation 24/7,” Simson added.