The European Commission is working on the reform of the EU electricity market due to rising prices

MOSCOW, 29 Aug – PRIME. The European Commission (EC) plans to reform the EU electricity market amid strong price increases, said the head of the EC Ursula von der Leyen.

“Rapidly rising electricity prices are currently exposing the limitations of our electricity market structure… We are working on emergency intervention and structural reform of the electricity market,” she was quoted as saying on Twitter by the European Commission.

According to the Nord Pool exchange, the average wholesale price of electricity as of August 30 in a number of EU countries exceeded 600 euros, somewhere it again crossed the mark of 700 euros per megawatt-hour. We are talking, in particular, about the Netherlands, France, Germany, Belgium, Austria, Latvia. On August 1, the figures in these countries were in the range of approximately 390-450 euros per MWh.

Earlier it was reported that the Czech Republic, which presides over the Council of the European Union, is convening an extraordinary meeting of the region’s energy ministers on September 9 to resolve the situation on the EU energy market.