The European electricity market: fit for purpose?

#FoEDebate

The euro area is experiencing a prolonged period of inflation, which has triggered a cost-of-living crisis and had a significantly deleterious impact on consumers and businesses across economies.

Energy price increases lie at the heart of European inflation. In recent months, the price of gas has sky-rocketed in Europe, directly impacting the price of electricity. Governments across the EU have utilised multiple fiscal measures to cushion the effects of energy price hikes on citizens, and the European Central Bank has raised interest rates throughout 2022 to curb rising inflation.

In her 2022 State of the Union address, European Commission President Ursula von der Leyen remarked that “the electricity market no longer works and requires radical reform to meet all the challenges posed by the structural transformations associated with the low-carbon transition […] It needs to be adapted to the new reality of dominant renewable energies because the electricity market was designed 20 years ago when [renewable energy] was marginal.” The current energy crisis has forced policymakers to consider whether the current electricity market design is fit for purpose.

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0:00 Introduction by Tamsin Rose, Senior Fellow for Health at Friends of Europe
04:07 Annamaria Marchi, Deputy Head of Unit for the Internal Energy Market at the European Commission Directorate-General for Energy (DG ENER)
08:48 Tamsin Rose
09:28 Marion Labatut, Deputy director of European affairs at Electricité de France (EdF)
13:58 Tamsin Rose
14:35 Leonardo Meeus, Director of the Florence School of Regulation at the European University Institute (EUI)
19:01 Tamsin Rose
19:37 Annamaria Marchi
19:50 Tamsin Rose
20:30 Q&A
21:08 Annamaria Marchi
21:47 Tamsin Rose
22:34 Leonardo Meeus
23:52 Marion Labatut
24:49 Tamsin Rose
25:24 Q&A
26:35 Tamsin Rose
27:33 Leonardo Meeus
28:50 Tamsin Rose
29:41 Annamaria Marchi
34:06 Tamsin Rose
34:41 Leonardo Meeus
37:19 Tamsin Rose
38:12 Marion Labatut
43:24 Annamaria Marchi
44:53 Tamsin Rose
45:02 Q&A
47:20 Leonardo Meeus
48:46 Tamsin Rose
49:10 Annamaria Marchi
50:32 Tamsin Rose
51:41 Marion Labatut
54:38 Q&A
55:37 Annamaria Marchi
57:15 Leonardo Meeus
58:18 Tamsin Rose
59:22 Leonardo Meeus
1:00:38 Marion Labatut
1:01:54 Tamsin Rose
1:02:15 Annamaria Marchi
1:02:40 Marion Labatut
1:02:56 Tamsin Rose
1:03:35 End of debate
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