Sunday, May 19, 2024

The EU seeks a solution to nuclear support

Date:

Nuclear power plant in Germany – Archive

On Tuesday, EU energy ministers will meet in Luxembourg in an attempt to break the deadlock over reforming the European electricity market resulting from disagreements among member states over nuclear subsidies.

Berlin warns that any provision in the new law that would allow subsidizing nuclear prices would distort competition in the EU in favor of countries that produce the most electricity from nuclear power, such as France.

The dispute reflects the division of EU countries into those that rely on nuclear power to reduce dependence on imported energy and reduce climate-damaging carbon emissions, while others reject nuclear power off the ground.

The planned reform aims to improve the protection of consumers in the EU from strong fluctuations in electricity prices, when prices temporarily rose sharply following last year’s collapse in Russian gas exports to Europe due to the Russia-Ukraine war.

Efforts to reform the European electricity market have focused on long-term contracts between governments and power generation companies, which the government supports if the market price of electricity falls below an agreed price.

The initiative aims to promote clean electricity generation by ensuring returns on investments.

The time element has become an additional pressure factor for EU countries to reach a common position, which allows negotiations with the European Parliament on the details of the reforms, which must be turned into legislation approved by the Parliament. Troops.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

The Ultimate Guide to Men’s Facials in Dubai

In the bustling city of Dubai, where the sun...

Diversification Benefits of Indices Trading

Index trading is a popular investment option among traders...

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...