WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 226
Market Data
Money Market Regulations
ENERGY IN
THE REGIONS
HOME
Market reform
FIGURE 13
Changing energy market design Overview (1/2)
EU
EU
UK
USA
Key Insights
Year
• To reform the EU’s Electricity Market
Design (EMD
• The reform aims to make electricity prices less dependent on volatile fossil fuels prices, shield consumers from price
spikes, accelerate the deployment of renewable energies and improve consumer protection
2024
(Ongoing)
• To revise Regulation On Wholesale Energy
Market Integrity And Transparency
(REMIT)
• The proposal for an amending Regulation to improve the Union’s protection against market manipulation in the wholesale
energy market, which revises the Regulation On Wholesale Energy Market Integrity And Transparency (REMIT) and the
ACER Regulation
2023
(Ongoing)
• Green Deal Industrial Plan
• To boost renewables, better protect consumers and enhance industrial competitiveness, the Commission proposed a
reform of the current electricity market rules in March 2023, as part of the Green Deal Industrial Plan
• The new electricity market design rules consist of the amending Directive EU/2024/1711 and the amending Regulation
EU/2024/1747. They were adopted on 21 May 2024 and entered into force on 16 July 2024
2023
(Ongoing)
• In 2022, the then Department for
Business, Energy & Industrial Strategy
launched its Review of Electricity Market
Arrangements (REMA) consultation
• REMA aims to create a market that supports rapid decarbonisation while protecting security of supply
• The second stage of consultation focus on four key challenges:
REMA proposes retaining marginal pricing in the wholesale power market, while developing the existing Contracts
for-Difference (CfD) scheme to decouple gas and power prices
Future-proofing the CfD scheme to support renewable investment by moving away from output-based payments, adjusting
reference prices, and allowing CfDs for partial project capacity
Optimize the Capacity Market to support emerging low-carbon technologies like CCUS-equipped thermal generation,
hydrogen-昀椀red generation, and long-duration energy storage (LDES)
Exploring whether a single national price or locational pricing is better for a decarbonised power market, excluding nodal
pricing due to its potential negative impact on investor con昀椀dence
• USAID Strengthening Utilities and
Promoting Energy Reform (SUPER)
• The Strengthening Utilities and Promoting Energy Reform (SUPER) program is focused on addressing key energy sector
challenges in USAID’s partner countries related to utility performance, under-investment, legal and regulatory frameworks,
sector reforms and cross-cutting interventions
Source: USAID, UK Parliament, European Council
2022
(Ongoing)
2020
(Ongoing)
WEMO 2024
EU
Design Changes
226
Region / Country
