European Parliament Endorses EU Electricity Market Reform

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Parliament,European Union,Electricity

The European Parliament has adopted a proposed reform in the EU's electricity market to make power prices less dependent on fossil fuel prices.

The European Parliament adopted on Thursday a proposed reform in the bloc’s electricity market to make power prices less dependent on volatile fossil fuel prices and accelerate the deployment of renewable energy sources. The Parliament passed the legislation with 433 votes in favor, 140 against, and 15 abstentions.

Under the proposal, which the European Parliament adopted today, vulnerable customers will be protected from having their electricity cut off, including during disputes between suppliers and customers.

 

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