Brussels, 28 July 2016 | The European energy landscape has changed significantly since the early days oft he power market liberalisation.With a fast penetration of intermittent renewable generation sources throughout the continent, flexibility, reliability, responsiveness of demand and access to storage are expected to constitute some of the major solutions to the challenges of the coming years.
The signatory organisations believe that the electricity market offers the only viable framework to meet these challenges. The market forms the corner stone that allows supply and demand to match in the context of an increasing reliance of Member States on each other’s resources and a growing interdependence of networks and TSO cross-border activities. The electricity market consists of different timeframes ranging from forward markets, through day-ahead and intraday to balancing markets. Where there is a need for flexible capacity, it will be rewarded in a well-functioning electricity market. All potential sources of flexibility should therefore compete in all market timeframes. Flexibility is not a separate product traded independently from the electricity market.
Please read the full statement below.