EU puts forward measures to reduce power demand

Proposals also include a temporary revenue cap on operators of renewable, nuclear and lignite power generation

The European Commission has proposed that member states aim to reduce their overall electricity demand by at least 10pc until 31 March 2023 to cut gas consumption over the winter, in response to the energy crisis triggered by Russia’s invasion of Ukraine. Under the proposals, member states would be required to identify the 10pc of hours with the highest expected price and reduce demand during them by at least 5pc. Peak hours will normally correspond to peak load hours, but they could also include hours where electricity generation from renewables is expected to be low and the generation from marginal plants is necessary to cover the demand. The Commission has committed to carry out a review