The reform of the electricity market can be done at the beginning of next year, says the president of the Commission
European Commission President Ursula von der Leyen said tonight that the full reform of the European electricity market should be done properly and technically by early next year.
Speaking at a panel in Berlin with German Economy Minister Robert Habeck, von der Leyen also said the electricity market must be reformed and the price of gas and electricity decoupled.
She announced earlier that the European Union is preparing “emergency intervention and a structural reform of the electricity market”.
“The dramatic increase in electricity prices clearly shows the limits of the existing market operation. This was designed in a very different context,” explained the president of the Commission during a conference in Bled, Slovenia, before the extraordinary meeting of EU energy ministers organized in Prague on 9 September.
“Rising electricity prices are now exposing, for different reasons, the problems of current electricity market design. It was developed under completely different conditions and completely different purposes. That is why we are now working for an urgent intervention and a structural reform of the electricity market,” he said.
He added that energy independence from Russia is the first step, the next is to look for new reliable partners to meet our energy needs.
Referring to the war in Ukraine, she said the EU stands by its core principles, resists aggression and protects its friends.
“Our increased need for raw materials must not lead us to new dependencies, we must diversify stocks and build ties with reliable partners,” he said.
He added that those who believe in the power of rules, such as Ukraine and the Western Balkans, should come closer to the EU.
“The best way to counter malign foreign influences is to strengthen democracy in Europe,” said Mr. von der Leyen, announcing a visit to Canada.
Will the rule of power replace the power of rules?
It depends on the power of democracy.
On our capacity to uphold core principles.
Resist aggression.Protect our values and our friends.
My address @BledStratForum ↓
https://t.co/AnBCgSfAqi— Ursula von der Leyen (@vonderleyen) August 29, 2022
Ending our dependency on Russian fossil fuels is step one.
Our increased need for other raw materials must not create new dependencies.
We must diversify supply and build ties with reliable partners.⁰
I will be in 🇨🇦 in two weeks to advance our partnership. pic.twitter.com/tK7xg7lUon— Ursula von der Leyen (@vonderleyen) August 29, 2022
We must bring those who believe in the power of the rules closer to us⁰
Ukraine of course. And the Western Balkans⁰
Balkan stability is European stability.Their prosperity is our prosperity.
The best way to counter malignant foreign influences is to strengthen democracy in Europe pic.twitter.com/ltPO57ZEVg
— Ursula von der Leyen (@vonderleyen) August 29, 2022
RES-EMP
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