T&D Europe, along side WindEurope, Cefic, European Aluminium, the European Roundtable of Industrialists, DigitalEurope, EuropaCable, EU Turbines, ArcelorMittal, Equinor and ZF, addressed a joint letter to the European Commission. The letter calls for the reestablishment of a system of price coupling in electricity between the EU and UK as the most viable market mechanism.
According to a recent study by Baringa, the combined benefits to the EU and UK, as a result of efficient electricity trading and closer collaboration in the North Sea, would be €44bn savings a year in consumer electricity bills.
“It is of strategic importance for Europe to structurally bring down Europe’s electricity prices for households and industry. This requires targeted actions and joint efforts, including closer cooperation between the EU and the UK”, said T&D Europe’s secretary general, Diederik Peereboom.
The successful realisation of the ambition to reduce electricity bills requires policy and regulatory action on three fronts: Electrification, Infrastructure and Industry. Find our concrete recommendations in our position paper.