EU To Overhaul Electricity Market To Encourage More Renewables
The European Union will overhaul its electricity market in a way that encourages the development of more wind and solar installations and discourages more fossil fuel generation. According to a draft of the proposal seen by Reuters, the overhaul will push fixed-price power contracts designed to protect consumers. The proposal would mean state support for new low-carbon investments must be done through contracts for difference – meaning there would be a fixed strike price for electricity regardless of short-term price swings. The changes planned…
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