Ursula von der Leyen announces a reconfiguration of the European electricity market, and this is because the European Commission wants to intervene urgently due to the ever-increasing energy prices, and to carry out a structural reform of the European electricity market, something that could still take some time quite enough.
On the other hand, Ursula von der Leyen announces that every kWh of electricity generated by Europe from "green" sources makes us less dependent on Russian gas, so investments of 300 billion euros are expected to accelerate the transition to energy green in the following period.
"Every kWh of electricity that Europe generates from solar, wind, hydropower and geothermal biomass or green hydrogen makes us less dependent on Russian gas. With #RePowerEU, we will invest up to €300 billion to accelerate the transition to green."
"We have financially supported Ukraine with more than 10 billion euros since the beginning of the war and we will support as long as it is needed. We do this for Ukraine. We do this to support our European values".
The skyrocketing electricity prices are now exposing the limitations of our electricity market design. It was developed for different circumstances.
We are working on an emergency intervention and a structural reform of the electricity market.
President @vonderleyen: at #BSF2022 pic.twitter.com/WlrwulAobm
- European Commission 🇪🇺 (@EU_Commission) August 29
