The reform of the electricity market is the EU’s long-term response to the energy crisis experienced in 2022. Despite a high share of renewables in energy generation, high spikes in fossil fuel prices (especially gas) have caused a steep increase in electricity prices. This is due to the functioning of the EU electricity market, where the price of […]
The European Commission extends the Spanish and Portuguese measure to reduce electricity prices until the end of the year
The European Commission has approved, under State aid rules, the prolongation and amendments of a Spanish and Portuguese measure aimed at reducing the wholesale electricity prices in the Iberian market (‘MIBEL’) by lowering the input costs of fossil fuel-fired power stations. The amended measure, which will be in place until 31 December 2023, was approved […]