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Negotiators from EU member states and the European Parliament reached a compromise on electricity market reform on Thursday morning in Strasbourg. The reform should, among other things, protect consumers against price spikes.
Source: BELGA
Today at 06:39
The compromise follows a proposal from the European Commission. It wanted to better protect consumers against strongly fluctuating electricity prices. Last year, prices rose when Russia suddenly started supplying fewer fossil fuels. The intention is also to stimulate renewable energy.
Central to the reform are new long-term contracts between governments and electricity producers. If the market price falls below an agreed price, the government will provide money.
The compromise now needs to be formally adopted by the Council and Parliament separately.