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Historically, there was little desire to overhaul the system, even as the proportion of clean power in the energy mix increased. It was hoped that higher wholesale electricity prices would incentivise the development of green energy by increasing the profit margin for lower cost renewables projects. Another option is to require cuts to electricity demand in line with what is currently a voluntary 15 per cent cut to gas consumption agreed by EU energy ministers in July.
William Peck, power market analyst at ICIS, a commodity analytics firm, also cautioned against overhauling a mechanism that had functioned well for decades and still served as an incentive for much-needed investment in clean power. The European Commission granted what has become known as “the Iberian exception” from state aid rules because their electricity bills are strongly linked to wholesale energy prices. They have limited energy connections with the rest of the EU, making the Iberian Peninsula “an energy island”. Brussels has also argued that the measure will allow the two countries to expand green energy production.
Get rid of that clown in the picture would be a good start
Start here 👇🏻
I'm sure fffgg will find a way to loophole it
It’s hard to curb anything when prices are determined by gamblers on the so called free markets.
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