May 2019 – The European Commission had announced the Energy Union Framework Strategy in 2015, setting out the main objectives of the EU energy policy to be followed in the future. As a fundamental pillar of the Energy Union Framework Strategy, in November 2016 the European Commission presented its package of legislative proposals, the so-called "Clean Energy for All Europeans" package (“Clean Energy Package”) on the comprehensive re-regulation of the EU electricity market.
Concluding two years of intense negotiations, on 22 May 2019 the Council of the European Union (“Council”) adopted the following legislative acts, forming a part of the Clean Energy Package:
- Directive of the European Parliament and of the Council on common rules for the internal market for electricity and amending Directive 2012/27/EU (“Electricity Directive”)
- Regulation of the European Parliament and of the Council on the internal market for electricity (“Electricity Market Regulation”)
- Regulation of the European Parliament and of the Council on risk-preparedness in the electricity sector and repealing Directive 2005/89/EC (“Risk Preparedness Regulation”)
- Regulation of the European Parliament and of the Council on establishing a European Union Agency for the Cooperation of Energy Regulators (“ACER Regulation”)
By adopting the aforementioned legislative acts, all elements of the new legislation forming part of the Clean Energy Package have been adopted. This is a very significant milestone in the recast of the legislative framework of the EU electricity market.
The new Electricity Directive and new Electricity Market Regulation comprehensively amend the legislative framework regarding the operation of the European electricity markets, primarily with a view to strengthen the interconnectivity, flexibility and consumer-orientation of the EU electricity markets. The aim of the Risk Preparedness Regulation is to ensure the security of electricity supply in crisis situations in the European electricity sector. The adopted legislative package also includes significant new rules on the role and functioning of the Agency for the Cooperation of Electricity Regulators (ACER).
The four final adopted legislative acts will enter into force on the 20th day following their publication in the Official Journal of the European Union.
We will provide further information through newsletters and seminars following the entry into force of the complete Clean Energy Package.