Europex welcomes the holistic ‘Fit for 55’ Package as a decisive step towards achieving Europe’s green transition. The package underlines the common understanding that competitive energy and emissions markets must drive decarbonisation efforts to achieve the EU’s green policy objectives at least cost to the economy and consumers, while ensuring a high level of competition and innovation. As Europe’s primary policy tool to combat climate change, the review of the EU ETS plays a fundamental role in delivering the EU’s ambitious 2030 and 2050 decarbonisation targets and broader Green Deal objectives. Such a review must ensure continued commitment to strong market principles that safeguard the undistorted price signals, efficiency, transparency and liquidity of the emissions market.
In the attached paper we provide our comments on key aspects of the proposal.