Journal Article / Energy
The Three Ages of Europe’s Single Electricity Market
It took us a while to build an EU internal market for electricity. According to the Single European Act strategy of Commission President Jacques Delors, it should have been implemented back in 1992… but that turned out to be only the first stirrings of a 25-year process. There are many “good reasons” why Europe has been so slow, and they are set out in the first part of this paper, entitled “Not easy to do … 1990-2015”. But there’s no denying that today we are entering the last mile of this slow process, even if anti-market arrangements still prevail in many countries. The paper’s second part – “All done by 2015?” – asks whether this whole construction is robust enough, while the third part “Done forever? From 2015 to 2030” will suggest that the EU’s internal electricity market may yet be seriously challenged by two waves of disruptive innovations – renewables and the “smartening” of the energy system.
The EU has made progress in integrating its markets, but there is
still a long way to go, argues Jorge Vasconcelos. Europe needs
a reinvented energy market and technological developments can
help that to happen.
Jorge Vasconcelos,Founder of the Council of European Energy Regulators and
Member of the Energy Roadmap 2050 ad hoc Advisory Group