|Author (Corporate)||Council of the European Union, European Parliament|
|Series Title||Official Journal of the European Union|
|Series Details||L 158|
Regulation of the European Parliament and of the Council of 5 June 2019 aimed at improving the EU regulatory framework governing the internal electricity market.
The current electricity market design is based on the rules of the 'Third Energy Package' adopted in 2009. These rules have subsequently been complemented by legislation against market abuses and implementing legislation concerning electricity trade and grid operation rules.
This Regulation aims to adapt the current market rules to new market realities, by allowing electricity to move freely to where it is most needed when it is most needed via undistorted price signals, whilst empowering consumers, reaping maximum benefits for society from cross-border competition and providing the right signals and incentives to drive the necessary investments to decarbonise our energy system.
The European Commission proposed the recast of the electricity market Regulation in November 2016 as part of its 'Clean Energy for All' package. This initiative will give priority to energy efficiency solutions, and contribute to the goal of becoming a world leader in energy production from renewable energy sources, thus contributing to the Union's target to create jobs, growth and attract investments.
|Subject Tags||Energy Markets|
|Keywords||Electricity Grids | Network
|International Organisations||European Union [EU]|