EU package to target electricity demand
Emergency measures aim to lower power prices by reducing demand at peak times
The European Commission will bring forward a proposal in the next few weeks containing emergency measures designed to tackle high energy prices across the EU. Following a meeting of energy ministers attended by European Commissioner for Energy Kadri Simson on Friday, it was announced that the package would include measures to reduce electricity consumption at times of peak demand, set revenue caps for renewable and fossil fuel power generators, and introduce policies to stabilise electricity futures markets. “We need to keep up our work and determination on all fronts. Diversification of supply and demand reduction will be our main tools,” Simson says. Devil in the detail The measures will l
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology