The European Parliament has adopted the EU electricity market reform, aimed at making the EU electricity market more stable, sustainable and affordable. The reform will seek to protect consumers against volatile electricity prices, granting them access to information on the fixed-price contracts or dynamic price contracts they can sign, and forbidding suppliers to unilaterally change the terms of a contract and to cut the electricity supply of vulnerable customers, including during disputes with customers. The use of CfDs will be allowed in all investments in new electricity production, whether from renewable or nuclear energy. Finally, the European Union may declare a regional or EU-wide electricity price crisis, allowing EU countries to take temporary measures to set electricity prices for energy intensive industrial consumers and SMEs.
In addition, the Parliament has approved reforms for a more sustainable and resilient EU gas market, aimed to decarbonise the EU's energy sector by enhancing the production and integration of renewable gases and hydrogen and to improve energy supply security. The reforms will strengthen mechanisms for fair pricing and stable energy supply, and will allow member states to limit gas imports from Russia and Belarus. They will also introduce a joint gas purchasing system to prevent competition among member states and a pilot project to bolster the EU’s hydrogen market for five years. Finally, the regulation will seek to boost investments in hydrogen infrastructure, especially in coal regions.
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