On 30 November 2016, the European Commission officially released its “Clean Energy for All Europeans” package, also known as “Winter Package” i.e., moving the EU to meet its climate change target with numerous legislative proposals to reform the EU energy market. This legislation will have an important impact on the electricity market and the development of renewable-energy going forward.
The European Commission wants the EU to be ahead on the global clean energy transition. For this reason the EU has committed to cut C02 emissions by at least 40 percent by 2030, while modernizing the EU’s economy, delivering jobs and growth for all European citizens. The legislative proposals include a new target for energy efficiency, achieving global leadership in renewable energies and proving a fair deal for consumers.
The Winter Package proposes an increase in the share of renewables in the energy generation mix to 27 percent, with half of this target being met via renewable electricity generation. With regards to energy efficiency, the European Commission proposed a target of a 30 percent increase by 2030 – a target slightly higher than the minimum 27 percent target which had been set by Member States in 2014. The Winter Package marks the beginning of a new energy revolution in Europe, recognizing that the region’s energy challenges have evolved over the last decades.
Since BREXIT, EU executives are seeking to highlight the advantages of being part of a unified bloc, with one of the executive priority being consumer right, pending to lower energy prices, reducing energy bills and removing barriers for generators to sell their renewable electricity and feed the grid.
For the time being, the EU executives have some work to do in order to show how the wholesale power market has dropped since the global financial crisis and the invoices of the end-user continue to increase around 3 percent year-on-year.
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