The agreement encourages long-term contracts and strengthens the supply guarantee. The final text of the reform will have to be negotiated with the European Parliament, with the aim of finalizing the reform before the end of the year.
The countries of the European Union today they managed to get the electricity market reformentrenched by a confrontation between Paris and Berlin over the treatment nuclear power plants should receive.
The Spanish Presidency of the Council of the EU has reached the agreement of all countries, except Hungary, which abstained, with a last-minute proposal that has succeeded in dispelling Germany’s doubts about the possible competitive advantages that France could obtain through its nuclear power plants.
“I can thank you all and applaud you for your constructive spirit,” said Teresa Ribera, the Third Vice President and Spain’s Minister of Ecological Transition, before the Energy Ministers of the Twenty-Seven burst into applause.
The European Commission, the Member States, the European Parliament and the electricity industry wanted to undertake this initiative market adjustment and they agreed on the main points: facilitating the massive deployment of renewable energy sources with cheap and stable prices in the long term to bring the EU closer to its climate goals and move away from Russian hydrocarbons.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
