MEPs approve electricity market reform

Brussels, 11 April (CTK correspondent) – MEPs today approved a reform of the electricity market in the European Union. The legislation aims to make the market more affordable and consumer-friendly and to protect vulnerable customers from disconnection. The measures, comprising a regulation and a directive that had already been agreed with member states, were adopted by 433 votes to 140, with 15 MEPs abstaining, and by 473 votes to 80, with 27 MEPs abstaining.

„We want stable and affordable electricity prices. Electricity must not be a luxury, but it must not be free,“ said the proposal’s rapporteur, Spanish MEP Nicolás González Casares of the Socialist group, during today’s debate in Brussels.

The reform also asks the European Commission to present an analysis of how the market is functioning in two years, he added.

„The legislation aims to protect consumers from price fluctuations. MEPs ensured that consumers will have the right to access fixed-price or dynamically priced contracts and receive important information about the services they agree to use,“ the European Parliament said in a press release, adding that suppliers will not be able to change contract terms unilaterally.

The legislation also provides for a mechanism to address an energy price crisis. In the event of very high prices and under certain conditions, the European Union may declare a regional or EU-wide electricity crisis, allowing member states to take temporary measures to set electricity prices for small and medium-sized enterprises and energy-intensive industrial consumers.

To enter into force, the legislation must also be formally adopted by the Council of the EU after approval by the European Parliament.

Negotiators from the European Parliament and the Council of the European Union, which represents the member states, agreed on the proposed electricity market reform in a so-called trilogue last December. As the Council of the EU said in a press release at the time, the changes to the rules aim to strengthen market stability, protect consumers from the effects of sudden price fluctuations and reduce the union’s dependence on Russian gas.

The agreement had previously been backed by Czech Minister of Industry and Trade Jozef Síkela, who expects it to bring greater „market resilience in the medium and long term, predictability of future energy costs and stronger competitiveness for our industry“.

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