In order to protect citizens from sudden price spikes, accelerate the utilization of renewable energy sources, and increase the bloc’s level of independence in a world that is becoming increasingly unstable, the European Union is working on a comprehensive reform of its electricity market.
After volatile prices brought millions of people in the 27-nation bloc into poverty or close to it as a result of Russia’s invasion of Ukraine, the EU’s executive Commission will attempt to phase out the use of gas in electricity production.
Before the plans from the Commission can be made into laws, which will take at least a few months, the EU parliament and the member states will have to evaluate them.
EU Energy Commissioner Kadri Simson said that, she believes that parliament and the member states of European Union are willing to treat this as a priority. This also implies that a few pieces of that proposition would be able to help them as of now for the following year.
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