Parliament adopts reform of the EU electricity market.
The reform adopted on Thursday will make the EU electricity market more stable, affordable, and sustainable.
The measures, composed of a regulation and a directive already agreed upon with the Council, were adopted with 433 in favour, 140 against and 15 abstentions, and 473 votes to 80, with 27 abstentions, respectively.
The law will protect consumers against volatile prices. MEPs ensured that they will have the right to access fixed-price contracts or dynamic price contracts, and receive important information on the options they sign up to. Suppliers will not be allowed to unilaterally change the terms of a contract.
MEPs also secured that EU countries can prohibit suppliers from cutting the electricity supply of vulnerable customers, including during disputes between suppliers and customers.
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EU electricity market will be more affordable and consumer friendly
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“Contracts for Difference” to encourage energy investments
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Vulnerable customers will be protected from having their electricity cut off
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EU will have power to declare regional or EU-wide electricity price crisis
