Electricity Market Design: creating the right incentives to ensure security of supply at minimum cost
- Kari Hietanen, President of EUGINE and Executive Vice President of Wärtsilä Corporation
- Intervention by Florian Ermacora, Head of Unit “Wholesale markets; electricity & gas” at DG Energy
The Commission’s Energy Summer Package has just launched a broad policy debate on tomorrow’s electricity market design.
Integrating more and more variable renewable energy sources (mainly wind & solar) in Europe requires a different – more flexible and market-driven – European electricity system. How to ensure the security of electricity supply and offset the generation variations created by volatile weather conditions? How to guarantee sufficient investments in new sustainable flexibility solutions?
Ahead of the European Parliament’s vote on the Energy Union and in the early phase of shaping a new European market design, Kari Hietanen, President of EUGINE, discussed how EU decision-makers can help create a real European electricity market. How can the EU foster technology neutral investments in highly-flexible, cost-efficient and sustainable solutions and, at the same time, avoid market-distortions?
It was a pleasure to welcome our members to the debate.