Nine EU countries have opposed the proposed overhaul of the bloc’s electricity market to respond to rising energy prices. European energy ministers would meet on Thursday to discuss responses to surging energy prices. Spain, France, and some other members have pushed an overhaul of EU energy regulations. Madrid has called the EU to import gas jointly to form strategic reserves. Other governments proposed price caps or set national power prices.
However, Austria, Denmark, Estonia, Finland, Germany, Ireland, Luxembourg, Latvia, and the Netherlands, are worried that the reform could boost the cost of installing renewable energy in the grid system in the long term. These countries urged the EU to stick with its current energy market design. According to them, departing from the current market design would undermine the cost-effective decarbonisation of the bloc’s energy system. Different energy pricing would also discourage electricity trade between EU members.
