EC Adopts New Market Reform Supporting Transition to Low-Emission Gases

The European Commission has adopted a new reform on the EU electricity and gas market to support the transition to low-emission gases.

• The gas update gives Member States the possibility to stop or limit imports of gas supply from Russia and Belarus, in line with the REPowerEU objectives.
• “Europe is now moving on to the electricity and gas markets of the future, where there is no space for Russian gas and where renewables, clean gases and hydrogen have a central role.” said Kadri Simson, Commissioner for Energy
• The reforms aim to facilitate lower and more stable prices to make European industry more competitive on the global stage and ensure security and affordability of energy for all European citizens.
• The update will lead to the creation of a market for hydrogen, which will be key for sectors such as heavy industries and transport.
• The EC said consumers will be better protected against supply and price risks. They will be able to switch suppliers more easily, improving effective price comparison and billing information, and with better access to new smart technologies.