16/05/2023at 14:43

EU rapporteur tightens power market revamp

EU official charged with negotiating Parliament position on the power market reform looks to instate permanent cap for producers and earmark provenu from state-run energy projects to consumers.

Danish parliamentarian Morten Helveg Petersen is deeply involved in the power market reform as a so-called shadow spokesperson. He is due to present any objections before May 23, when Parliament negotiations kick off. | Photo: Jens Hartmann

by louise wendt jensen, translated by simon øst vejbæk

If power prices exceed EUR 180/MWh, 90% of producer earnings above that limit is to be rerouted to the state, which in turn will send the money to struggling consumers.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

EU Commission presents power market revamp
For subscribers
Spain blasts Germany for unfair approach on combustion engines
EU nations fan flames on RE dispute
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Policy & Trading

Ørsted chief exec is "grateful" for open-door project

Closing the open-door scheme sorts as a ”minor catastrophe,” says Mads Nipper, waiving to pursue the scuttled projects.

For subscribers

Maersk has the stated goal of reaching net-zero emissions by 2040, which requires that ships sail on green alternatives to traditional bunker oil. | Foto: Marcus Brandt/AP/Ritzau Scanpix

Oil & Gas

Maersk Oil Trading merged into new business unit for green energy

For subscribers

Utilities

Ørsted issues blue bonds for EUR 100m

For subscribers

Renewables

Vestas lands Scottish order of 221MW

For subscribers

Renewables

TotalEnergies wins 1GW PPA in Kazakhstan

For subscribers

Policy & Trading

Scientist: Cooling of Zaporizhzhia plant will continue

Ørsted considers abandoning offshore wind projects

If there are no profits on the horizon, Ørsted would contemplate stepping out of existing projects where no final investment decisions have been made.

For subscribers

Policy & Trading

Climate Council: "Denmark is actively trying to solve the energy crisis by worsening the climate crisis"

The council encourages the Danish government to close the loophole which still allows for oil and gas to be extracted from the North Sea towards 2050.

For subscribers

Utilities

Ørsted lowers offshore wind ambitions drastically

The energy company lowers its expectations on both how much offshore wind will been installed by 2030, as wells as the investment sum to be spent on the hitherto main focus.

For subscribers