9 EU member states oppose energy market reform

Germany, the Netherlands, Austria, Luxembourg, Denmark, Finland, Estonia, Ireland and Latvia published a joint letter before the meeting of the energy ministers of the European Union (EU) member states to discuss the rising energy prices in Luxembourg today.

In the letter, it was pointed out that the rise in energy prices is global and this affects the EU countries as well.

In the letter, which stated that the increase especially aggrieved the low-income and SMEs, it was stated that the package of the EU Commission, which includes the measures that the member states can implement in line with the Union law, against the increasing energy prices, was welcomed.

In the letter, it was emphasized that the current price increase in energy depends on the global economic recovery and supply and demand factors in fossil fuels, and it was noted that "EU energy market design or climate policies" were not responsible for the increase.

In the letter, which stated that energy prices are expected to return to average levels in the spring, it was stated that the EU gas and electricity markets were built gradually and over many years, and that intervention in the design of energy markets should be considered very carefully.

In the letter, it was pointed out that the increase in energy prices stemmed from the fossil fuel markets and that the EU natural gas and electricity market reform could not be supported against this situation.

Countries such as France, Spain, Greece, Czechia and Romania argue that EU natural gas and electricity markets should be reformed and resource prices in electricity generation should be unbundled.

COMPLAINING ABOUT EUROPEAN PRICES

In the current system, the wholesale electricity price in the EU is determined by the final generator needed to meet the total electricity demand, and usually by natural gas power plants.

In the winter months, the natural gas demand of European countries is expected to increase further and electricity prices are expected to rise further.

In Europe, consumers are complaining about rising natural gas and electricity prices.