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Nuclear
Energy
Gender
Structural
FundsUpdated: July 2023
Internal
Electricity Market Regulation:
Regulation (EU) 2019/943 on the internal market for electricity
On the 5th of June 2019, Regulation
(EU) 2019/943 on the internal
market for electricity was adopted.
The Regulation aims to improve
the market rules to take into account the increased share of renewable
energy in the overall generation mix and to facilitate the inclusion
of consumers in the energy markets.
This will be done
particularly by allowing participation
at short notice (intraday or balancing markets), as the forecast of
energy generation from renewable sources is very dependent on weather
conditions and consumers therefore need more flexibility in terms of
where to get their energy from.
Such an arrangement would also allow
for the creation of new business opportunities, as back-up providers
would be needed in times of low renewable energy production.
By improving
the energy market arrangements, the Commission also hopes that investments
in the energy sector will be more attractive to relevant actors, among
other thing by creating more transparency in energy prices to show
where production is scarce, and investments are needed.
The Regulation
also serves to ensure a sufficient supply of electricity (resource
adequacy) and the continued functioning of critical systems in modern
society, which are largely dependent on electricity and internet connection.
In this context, the Commission argues, a regionally based solution
is more effective than a nationally based one, as the resource adequacy
in one country often depends on supply from neighbouring countries.
A regionally based solution will also contribute to a strengthening
of the cooperation between member states.
Find
out more information in the European
Commission's website.