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HomeLatest NewsRenewables warn Ribera: "There are more than 100,000 million at stake"

Renewables warn Ribera: “There are more than 100,000 million at stake”

Date: March 29, 2024 Time: 18:47:24

Unrest is growing among renewable energy employers over the decision taken by the Ministry for Ecological Transition and the Demographic Challenge to reform the European electricity market. The Wind Business Association (AEE) and the Association of Renewable Energy Companies (APPA Renovables) have criticized that the Government has not counted on their participation to design this far-reaching reform in Europe, which has not been agreed upon or analyzed with the sector.

In addition, both employers have conveyed their concern after the Government has already sent its proposal to Brussels “without an in-depth analysis of the scope of the proposed changes having been carried out”, a task that it considers should be carried out hand in hand with the renewable sector.

“The importance of the recently presented proposal is enormous, since it would have a very relevant impact on the business model of the renewable sector in Europe and for this reason a process should be carried out prior to the revision of the rules and mechanisms of the European electricity market, preceded by of a technical debate, with a long-term horizon, that consider the contributions of the sectors involved, and that are based on sustainable economic and social criteria”, they have defended.

In the case of Spain alone, there are more than 100,000 million euros in potential investments in renewable energy, green hydrogen, energy storage and infrastructure, the materialization of which he believes depends on a legal framework “established, predictable and agreed upon by the private sector”.

“Any proposal that is presented to change the design of the European electricity market must be focused on facilitating, making it cheaper and accelerating the development of new facilities, both in Spain and in the rest of the European Union,” they added.

For this reason, from AEE and APPA Renovables they have shown their interest in collaborating actively with the Ministry, as well as with the European Commission, in all the initiatives that are necessary to improve the Spanish and European market and that help to achieve the ambitious objectives Europe has to decarbonize the economy by 2030.

For its part, the employers’ association of the electric companies, Aelec, has also warned that the Executive’s claims “open the door to various major modifications that could endanger the free market in the electricity sector, defended in Europe in recent decades”. .

“This proposal may increase regulatory uncertainty and affect the investments that the sector has to carry out to carry out the urgent energy transition. The economic impacts that the reform brings with its implementation are unknown,” Aelec has shown itself so forcefully , which brings together Iberdrola, Endesa and EDP.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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