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The proposed reform of the electricity market design maintains crucial elements of the existing system to ensure continued efficient operation. The impact that changing the rules on longer-term contracts will have on consumer prices and investment will depend on the concrete language of proposed legislation as well as its ultimate implementation. Overall, neither the expected mode of impact of individual reform elements, let alone their interaction, is clearly spelled out by the legislators. This ...

Since Russia invaded Ukraine, EU Member States have made serious efforts to reduce their dependence on Russian energy imports. To broaden the range of energy suppliers, the European Commission and the Member States' national governments have signed new agreements with non-EU countries and strengthened their pledges with existing partners. Norway is the world's fifth largest oil and third largest natural gas exporter, accounting for 2 % of global crude oil production and 3 % of global natural gas ...

Since Russia invaded Ukraine, EU Member States have made serious efforts to reduce their dependence on Russian energy imports. To broaden the range of energy suppliers, the European Commission and EU national governments have signed new agreements with non-EU countries and strengthened their pledges with existing partners. The Kingdom of Saudi Arabia is a member of the Gulf Cooperation Council (GCC) and the Organization of Petroleum Exporting Countries (OPEC). The economy of Saudi Arabia is the largest ...

This study is the first research paper in a series of three, prepared for a PECH Committee Workshop. It gives insight on the challenges and opportunities arisen from the application of the European Green Deal to European fisheries. It identifies solutions that are currently being applied regarding decarbonisation and circular economy practices in fisheries and observed strengths and weaknesses of the regulatory framework. It provides policy recommendations to move towards the decarbonisation of the ...

The Commissioner-designate, Iliana Ivanova, appeared before the European Parliament on 5 September 2023 to answer questions put by MEPs from the Committees on Industry, Research and Energy (ITRE) and on Culture and Education (CULT). During the hearing, she made a number of commitments which are highlighted in this document. These commitments refer to her portfolio, as described in the mission letter sent to her by Ursula von der Leyen, President of the European Commission, including: • Education ...

In 2022, over 41 million Europeans were unable to keep their homes adequately warm. Energy poverty is a multi-dimensional phenomenon, considered to be caused by a combination of low income, high energy expenses, and poor energy efficiency in buildings. The EU has been addressing this issue in various legislative and non-legislative initiatives, most recently in the context of its climate policies and energy transition, as well as the energy crisis. The Gas and Electricity Directives ensure the protection ...

On 15 December 2021, the European Commission adopted a major revision (recast) of the Energy Performance of Buildings Directive (EPBD), as part of the 'fit for 55' package. This package is a core part of the European Green Deal, which aims to set the EU firmly on the path towards net zero GHG emissions (climate neutrality) by 2050. The recast EPBD aims to accelerate building renovation rates, reduce GHG emissions and energy consumption, and promote the uptake of renewable energy in buildings. It ...

Renewable energy has grown in importance in the EU in the light of new climate goals and energy security needs. The revised Renewable Energy Directive will set a target of a 42.5 % share of renewables in EU energy consumption by 2030, with additional sub-targets for some sectors. A provisional agreement was reached with the Council in March 2023 and Parliament is due to vote on the text during its September 2023 plenary session.

According to Article 194(2) of the Treaty on the Functioning of the European Union, each Member State independently decides on its own energy mix and use of nuclear energy. However, there are common rules and standards on nuclear energy, the basis for which is the Treaty on the European Atomic Energy Community (Euratom Treaty) signed in 1957. All current EU Member States are party to it and it has remained largely unchanged throughout the years. Common EU rules also stem from the Nuclear Safety Directive ...

In response to Russia's invasion of Ukraine in February 2022, the EU took immediate action to stem rising energy prices and secure energy supply to its Member States. In its communication on the REPowerEU plan from March 2022, the European Commission proposed that the Member States use joint purchasing, collecting of orders and matching of supply and demand to support gas storage refilling operations. The Commission also proposed a 'joint European platform' to lead bilateral negotiations with major ...