EPEX SPOT welcomes vote of EU Parliament on electricity market reform

Innovation essential for competitiveness of power sector, benefit of end-consumers

Paris, 12 April 2024. The European Power Exchange EPEX SPOT joins the various stakeholders of the energy sector in welcoming the approval of the EU Electricity Market Design Reform by the European Parliament.

This represents an important milestone towards the official adoption of the draft reform. In addition, the Parliament’s vote embodies a seal of approval for the pivotal role of the electricity market for the European Energy system. By providing robust price signals, fostering innovation and setting investment incentives that drive forward the energy transition, the power market is an engine for the economic welfare of the continent. A well-functioning and innovative Electricity Market also underscore the competitiveness of Europe on a global scale.

While the initial proposal was drafted under tremendous political pressure and in the light of an intense price crisis, this reform gives new solutions to member states to screen off end-consumers from price peaks while protecting the integral functioning of the market for an efficient price formation.

Especially in the context of innovation, this is an important feature. EPEX SPOT, as an innovative and market-oriented operator of the Day-Ahead and Intraday markets, launched a Guarantees of Origin auction more than a year ago and strive to make its local flexibility market trading platform a state-of-the art solution for congestion management by System Operators.