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
Also in this section
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
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