Europex welcomes the forward-looking action from both the Council and the Commission to enhance coordination on measures to reduce natural gas demand to alleviate risks in anticipation of full or partial supply disruption of Russian natural gas.
As the main objective is decarbonisation, clear rules are needed to determine the renewable character of both electricity and RFNBOs, including hydrogen which is likely to play a key role in the future energy mix.
At the regular meeting of the General Assembly, members discussed high energy prices and the regulatory impact of the Russian invasion of Ukraine on European energy markets.
As the European Council meeting of 30 and 31 May approaches, we urge Member States to consider the added value of the IEM in managing the immediate effects of this crisis and in shaping the energy sector of the future.
As regards the new REPowerEU Plan published yesterday, we have serious concerns about several of the proposed short-term emergency measures as they risk threatening the integrity and functioning of the Internal Energy Market.
In the short-term, measures to protect vulnerable consumers are essential. But the only real sustainable solution to the current crisis is to shift away from fossil fuels, invest massively in clean energy alternatives, accelerate energy savings and unlock demand response.
Europex welcomes the European Commission’s call for enhanced coordination on natural gas storage. We fully share the Commission’s assessment that any measures taken must not inordinately distort the efficient functioning of the EU’s internal gas market.
Europe is currently facing a severe shock to its energy markets, the reasons for which are diverse, ranging from global demand and supply fundamentals in the early stages and now strongly influenced by the Russian invasion of Ukraine.
In response to the Russian government’s actions against Ukraine, the General Assembly of Europex has decided to exclude the Saint Petersburg International Mercantile Exchange (SPIMEX) from Europex, effectively terminating their associate membership as of today.
We would like to express our concern that the European Commission may be considering intervention in the ETS, either through position limits or some other action, ahead of the publication of ESMA’s final report on the EU Carbon Market.
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