Electricity Market reform: more renewables, more security of supply and at competitive cost
- Julio Castro, Global Regulatory Director at Iberdrola
Intervention:
- Florian Ermacora, Head of Unit ‘Wholesale markets, electricity and gas’ DG ENER, European Commission
The reform of the electricity market is one of the key aspects foreseen by the Energy Union strategy proposed by the European Commission. Policy-makers will have to decide on the most appropriate ways to achieve environmental targets, maintain full security of supply and ensure fair prices for consumers.
In order to reach these energy and climate objectives, substantial new low emission generation will have to be integrated efficiently in the energy markets. A more dynamic power sector with higher penetration of RES and customer’s empowerment requires flexible back-up power generation systems to be available.
Julio Castro, Global Regulatory Director at Iberdrola explained how this can be achieved while guaranteeing business competitiveness and a climate of investment stability.
Florian Ermacora, Head of Unit for ‘Wholesale markets, electricity and gas’ at DG ENER, provided the European Commission perspective on this issue.