Electricity Market Design – How can the system benefit from investments in flexibility?
WATCH THE RECORDING HERE
On March 14th, the European Commission plans to publish its proposal to reform the European Electricity Market Design (EMD). Although the political discussion has focused on the short-term wholesale markets and their impact on consumer prices, in the recently closed public consultation, the Commission additionally suggested different longer-term instruments to incentivise a fast growth in renewable generation capacity as a way to help Europe become more independent from imports of Russian gas.
With growing shares of variable generation, the volatility in the electricity supply-demand balance is increasing, requiring significantly higher system flexibility. Industry stakeholders suggest that technology that ensures generation adequacy in periods of low variable renewables supply (i.e. wind, sun) should fall under the category of investments needed to create a greener and more secure energy system.
The Commission has acknowledged the importance of flexible solutions by including these in the consultation text. This suggests it’s the perfect time to involve multiple stakeholders in a full exchange on the importance of flexible solutions to the energy system we are building for ourselves and for future generations.
Join this EURACTIV Hybrid Conference to discuss “flexibility” to facilitate a more resilient energy market and a decarbonised energy system. What are the different flexibility needs and the available technical solutions? What investments are needed and how can the electricity market design benefit from these investments?
WATCH THE RECORDING HERE
Brussels Network Office - International Press Centre
1 Bd Charlemagne // 2nd floor
Policy Officer, Internal Energy Market Unit, DG ENER, European Commission
Dr Christoph Gatzen
Director, Frontier Economics
Miapetra Kumpula-Natri MEP
Member ITRE committee, European Parliament
Product Management and Strategy, GE Vernova
Secretary General, EUTurbines and EUGINE
12:00 – 12:30 Registration of Participants
12:30 – 12:35 Welcome
12:35 - 12:50 Panellist statements
12:50 – 13:40 Discussion and Q&A
13:40 – 13:45 Closing statements
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The European Commission is proposing new measures to help the EU power grid adapt to changes in demand, aiming to reduce reliance on pricey fossil fuels and enable more renewables to come online.