The European gas and electricity market
- Over 530 million people served.
- Over 3170 terawatt hours (TWh) annual electricity consumption.
- Over 400 billion cubic meters (bcm) annual gas consumption.
- Over 53% of energy imported at a cost of around €400bn.
The European 2020 target
- 20% reduction in EU greenhouse gas emissions from 1990 levels;
- 20% share of EU energy consumption produced from renewable resources; and
- 20% improvement in the EU’s energy efficiency.
How to get there?
Infrastructure – The right infrastructure to ensure security of supply, optimum generation capacity and increased competition across Europe.
System operation – Coordinated rules for operating the electricity network.
Markets – Well-designed market rules that will allow new businesses to emerge, without discrimination against market players or technologies, and to ensure that the best solution for European consumers is always put first.
The European Internal Energy Market (IEM)
The objective of the IEM is to ensure a functioning market with fair market access and a high level of consumer protection as well as adequate levels of interconnection and generation capacity. A recent study published by the European Commission estimates the net economic benefits from completion of the internal market to be in the range of 16 – 40 billion Euros per year.
This site contains more information on the policy behind the IEM and latest news of development, the draft European rules (or network codes) and links to the stakeholders involved, market information and relevant publications.