EPEX SPOT welcomes central role of electricity trading in future European energy market rules
The Electricity Directive and the Electricity Regulation are essential parts of the “Clean Energy for all Europeans” Package. A political agreement was reached between the European Commission, the European Parliament and the Council of the European Union on both files. EPEX SPOT welcomes this milestone which confirms the increasingly important role of short-term energy markets.
Ralph Danielski, CEO of EPEX SPOT comments: “We welcome this agreement. The package confirms the growing role of short-term electricity markets to accelerate the energy transition and contribute to security of supply. Reliable and transparent electricity price signals are indispensable tools to drive clean energy investments. We also welcome new impetus given to the integration of European electricity markets and market coupling, which creates additional trading opportunities, more liquidity on wholesale markets and lower electricity prices for European consumers.”
Wolfram Vogel, Director of Public & Regulatory Affairs adds: “This political deal paves the way for more competitive and integrated electricity markets. We welcome the importance given to market-based principles and the development of flexibility. EPEX SPOT has already pioneered different projects to allow industrial and individual consumers to adapt their consumption patterns on the basis of a reliable price signal. More will need to be done in the coming years to foster flexibility, and we look forward to being part of that development!”
The European Parliament and Council of the European Union will have to give the formal approval to the texts agreed in the informal “trilogues” discussion. New legislation will enter into force after publication of the texts in the Official Journal of the Union.
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe and the United Kingdom. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. In the first half of 2018, 284 TWh have been traded on EPEX SPOT markets. In 2017, its 285 members traded 535 TWh – a third of the domestic consumption in the eight countries covered. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.