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ARTICLE · 13 APRIL 2023

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Rapid Evolution Required By EU Electricity Market Reform

Arthur Cox
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The Commission's consultation (which we looked at here) did not signal significant market redesign, but rather strengthening of the regulatory framework to accelerate current direction of travel.

European UnionEnergy and Natural Resources
Arthur Cox
Arthur Cox
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Detailed legal proposals to change the EU electricity market, promised last year amid the impact of war on energy prices, are ready to undergo the legislative process. Short timeframes for transposition into Irish law are included. What should we expect?

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The Commission's consultation (which we looked at here) did not signal significant market redesign, but rather strengthening of the regulatory framework to accelerate current direction of travel.

Stakeholders considered that short-term markets (day-ahead and intraday) and marginal pricing should be preserved because they function well, provide the right price signals, are well-developed, and are the result of years of implementation of EU energy legislation.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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