European Commission publishes a proposal for a Council Regulation on an emergency intervention to address high energy prices
Emergency measures are needed to cope with the current energy crisis; these include a mandatory target of at least a 5% reduction in gross electricity consumption during selected peak price hours. By enabling all flexible resources to participate to the market, it is possible to achieve demand reduction in peak hours through market price signals, without the need for Member States to intervene.
In other words, by enabling flexibility, we are able to make the system more resilient to disruptive events (such as a sudden reduction in gas flows towards EU due to a war).
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