News update
  • Metro rail services disrupted for power fault, passengers suffer     |     
  • UN Security Council condemns Jammu and Kashmir terror attack     |     
  • 250,000 mourners pay last respects to Pope Francis in 3 days      |     
  • US Restructuring Plan May Include World Bank, IMF & UN Agencies     |     
  • AL-BNP clash leaves over 50 injured in Habiganj     |     

EU reaches deal to reform electricity market

GreenWatch Desk Admin1 2023-12-14, 11:41am

image-163184-1702531733-3f6146c533eebd69a5d4da7f19c7e3ec1702532508.jpg




( BSS ) - The European Union reached an agreement on Thursday to reform the bloc's electricity market in a bid to reduce dependence on fossil fuels and stabilise consumer prices, Spain's energy minister said.

"Today, the Council and the Parliament reached a provisional agreement to reform the EU's electricity market design (EMD)," said Teresa Ribera, Spain's energy minister, whose country holds the EU's rotating presidency.

"The reform aims to make electricity prices less dependent on volatile fossil fuel prices, shield consumers from price spikes, accelerate the deployment of renewable energies and improve consumer protection."