On 26 March 2019, the Members of the European Parliament adopted four new laws on the EU electricity market, which were agreed informally with EU ministers at the end of 2018. In detail, these are the new Electricity Market Regulation and Electricity Market Directive as well as the Regulations on Risk Preparedness and the Agency for the Cooperation of Energy Regulators (ACER). This concludes the “Clean Energy for All Europeans Package” (CEP). The agreements now need to be formally approved by the EU ministers and published in the EU Official Journal before they can enter into force.
The overall objective of the CEP is to create a Europe-wide market for electricity that is cleaner, more competitive and more risk-adjusted. One of the more specific targets is to freely distribute at least 70% of trading capacity across borders from 2020 on in order to facilitate trade in renewable energy across EU borders and thus support the efforts to meet the EU’s binding target of 32% renewable energy by 2030 and to fulfil the obligations of the Paris Agreement. The regulation on ACER implies that the Agency will be given more tasks and powers.