European Commission Says Expects First Results Of EU Electricity Market Study In November

The European Union has tasked the European Union Agency for the Cooperation of Energy Regulators (ACER) with the analysis of the European electricity market design and expects to see the preliminary findings by mid-November, Kadri Simson, European Commissioner for Energy, said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 13th October, 2021) The European Union has tasked the European Union Agency for the Cooperation of Energy Regulators (ACER) with the analysis of the European electricity market design and expects to see the preliminary findings by mid-November, Kadri Simson, European Commissioner for Energy, said on Wednesday.

"We are also tasking the agency of European energy regulators to conduct a study on the benefits and possible drawbacks of electricity market design in the light of the current experience of volatile prices," Simson said.

The full study will be ready by April, but first findings are expected by mid-November for preliminary discussions among European energy ministers, the commissioner added.

The European market has experienced a surge in natural gas prices over the past few months, spurred by increasing energy demand amid the global economic recovery after months of COVID-19 lockdowns, as well as limited supply. The rise in gas prices also led to an increase in electricity prices, prompting calls from some countries to decouple.