Europex welcomes the publication of the ‘Fit for 55’ package as an important step to align European climate and energy legislation with the agreed target of at least 55% net emission reductions by 2030. The legislative proposals published today underline the common understanding that competitive energy and emissions markets must drive decarbonisation efforts at least cost to the energy system and consumers while ensuring a high level of competition and innovation. We therefore welcome proposals to strengthen the EU ETS and bolster its role as the central instrument for reducing greenhouse gas emissions in the EU. Coherence is needed across the entire package, for example ensuring that national support schemes do not undermine the efficient functioning of energy and emissions markets.
We comment below on proposals for the EU ETS, RED III and CBAM.