BALIHT welcomes the EU proposal on the Electricity Market Design reform

An ambitious legislative context to address green transition

For the past few months, the European Commission worked on multiple legislative initiatives for the European Union to prepare green transition. The Fit for 55 package sets up a new framework and aims to reduce EU emissions by at least 55% by 2030 to make the EU climate-neutral by 2050. This objective requires paradigmatic changes and to completely transform our societies. To that end, the Green Industrial Deal mentions 4 key pillars to adapt the European Industry. One of them underlines the need to speed up investments and financing for clean-tech production in Europe. But to complete the transformation of our societies, the electricity market design must be addressed to meet the EU’s objectives.

Commission proposal to reform the Electricity Market Design (EMD)

The European Commission unveiled its proposal for reforming the Electricity Market Design following many disfunctions in the past few months. The proposal especially focusses on a better integration of renewable energy to the global power system. This is possible only if flexibility, through demand responses mechanisms and energy storage, is provided. Hence, the Commission pushes forward for the development of energy storage and particularly on flow and organic flow batteries. BALIHT is proud to say that we have already engaged with this kind of technology and to be pioneers.

More fundings required to fulfil the goals of the reform

BALIHT welcomes the proposal as a first good step laying the foundations of an Electricity Market Design based on renewable energy. But as the Commission highlighted it, energy storage is essential to support the renewable energy integration within the power system. Initiatives such as BALIHT’s demand important amounts of fundings. That is why BALIHT asks the Commission for more financing to meet up technological expectations and to complete the transition of our societies.

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