26 Oct, 2021 @ 18:45
1 min read

EU 9 shoot down French/Spanish energy market reform proposal

NINE EU states have scuppered a Spanish/French proposal to reform the bloc’s wholesale energy markets.

Prompted by soaring bills, Spain and France wanted electricity prices to no longer be linked to the cost of gas.

They view it as unfair that consumers are not benefiting from low-cost renewables and nuclear sources of electricity, but instead have to pay inflated bills due to the high cost of gas.

But the nine countries – Austria, Denmark, Germany, Estonia, Finland, Ireland, Luxembourg, Latvia and the Netherlands – do not want long term reforms to the energy market, arguing that it is a world-wide problem that needs a global solution.

Spain Looks At New Moves For Low Income Families To Reduce Sky High Electricity Prices
Picture: Cordon Press

Instead they want short-term aid for consumers until gas prices settle.

In a joint statement, the nine said: “As the price spikes have global drivers, we should be very careful before interfering in the design of internal energy markets.

“We cannot support any measure that conflicts with the internal gas and electricity market, for instance, an ad hoc reform of the wholesale electricity market.”

They added: “This will not be a remedy to mitigate the current rising energy prices linked to fossil fuels markets.”

Their solution is to further integrate European energy markets with 15% electricity interconnection achieved throughout the EU by 2030. This would iron out peaks and troughs in demand and in internal market prices.

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Dilip Kuner

Dilip Kuner is a NCTJ-trained journalist whose first job was on the Folkestone Herald as a trainee in 1988.
He worked up the ladder to be chief reporter and sub editor on the Hastings Observer and later news editor on the Bridlington Free Press.
At the time of the first Gulf War he started working for the Sunday Mirror, covering news stories as diverse as Mick Jagger’s wedding to Jerry Hall (a scoop gleaned at the bar at Heathrow Airport) to massive rent rises at the ‘feudal village’ of Princess Diana’s childhood home of Althorp Park.
In 1994 he decided to move to Spain with his girlfriend (now wife) and brought up three children here.
He initially worked in restaurants with his father, before rejoining the media world in 2013, working in the local press before becoming a copywriter for international firms including Accenture, as well as within a well-known local marketing agency.
He joined the Olive Press as a self-employed journalist during the pandemic lock-down, becoming news editor a few months later.
Since then he has overseen the news desk and production of all six print editions of the Olive Press and had stories published in UK national newspapers and appeared on Sky News.

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