In a context of great instability in the natural gas market, which has led to a sharp rise in electricity prices, the European Union is preparing to discuss structural reforms for the electricity market.
According to the president of the European Commission, Ursula von der Leyen, who spoke at a forum in Slovenia, the current instability of electricity prices in the European Union exposes the limitations of an electricity market that was designed for other circumstances. Ursula von der Leyen also said that the solution should be to decouple natural gas and electricity prices.
The Czech Republic, which currently holds the presidency of the Council of the European Union, is in favor of establishing an upper limit for the price of natural gas used to produce electricity. Pending the EC’s detailed market reform plan, some countries, such as Belgium and Italy, have insisted that a temporary cap be set in the meantime.
The 27 energy ministers will meet on September 9th.
Source: Jornal SOL
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September 2nd, 2022