Siobhan Hall

State guarantees could reduce such costs, which expand over longer time horizons, for contracts such as futures trading and power purchasing agreements (PPAs), it said in its latest European wholesale power market monitoring report.

The missing plans meant the EC could not assess whether the EU was on track to meet its overall targets, which included sourcing at least 42.5% of the bloc's energy from renewables by 2030, it said on Thursday.

Installed renewable power capacity in Europe had increased by more than 110 GW since last winter, mostly driven by solar photovoltaic additions, Entso-E said in its Winter Outlook 2024-2025.

Initial enthusiasm for green hydrogen projects and high expectations in Europe have been tempered in recent years by rising inflation, interrupted supply chains and elevated costs.

Replacing these volumes will be a priority task for the EU energy commissioner candidate, Denmark's Dan Jorgensen, she told the parliament ahead of a vote to confirm her new team of commissioners for the next five years.

This would “efficiently promote hedging and liquidity in forward markets and increase price stability”, it said in its response to a public consultation organised by EU energy regulatory agency Acer.

(Montel) The European Commission plans to unveil an EU strategy to decarbonise its industry while maintaining competitiveness on 26 February, according to its tentative agenda.

(Montel) EU power capacity mechanism costs are projected to total EUR 6.5bn in 2024, down 13% from EUR 7.4bn in 2023, the bloc's energy regulatory agency Acer said on Monday.

(Montel) EU power system costs could increase by up to 40% by 2030 and nearly double by 2050, pushing up prices and reducing the bloc's competitiveness, EU energy regulatory agency Acer said on Monday.

(Montel) A plan to bring down Europe's energy prices will be the “cornerstone” of the European Commission's clean industrial strategy expected in February, EU energy commissioner Dan Jorgensen said on Monday.