Industry

EU’s electricity market reform aims to better shield consumers from price volatility

The European Union’s proposal of electricity market reform aims to better protect consumers from excessive price volatility, support their access to secure energy from clean sources, and make the market more resilient.

"In the current crisis of high and volatile electricity prices, the economic burden has been pushed on to final consumers," the European Commission said Monday.

It underlined the necessity of reform to better shield households and businesses from high energy prices and to increase resilience.

The commission launched a public consultation on the reform of the EU's electricity market design which will be proposed in March.

"The unprecedented energy crisis we are facing shows that we need to make the electricity market design fit for the future, allowing it to deliver the benefits of affordable clean energy to everyone," said European Commissioner for Energy Kadri Simson.

Source: Anadolu Agency