Nuclear energy as a rescue: EU reform for stable electricity prices passed!

Nuclear energy as a rescue: EU reform for stable electricity prices passed!

In a recent statement, several EU countries that are members of the European Nuclear Alliance made their position on nuclear energy clear. They see this as an essential answer to the increasing demand for fossil-free electricity and climate change. According to the alliance, thanks to its low carbon footprint, nuclear energy offers a cost-effective way to generate baseload electricity that can be needed at any time. As an example, the positive effects of new and existing nuclear power plants were highlighted, which not only cover the energy needs of their own countries, but also contribute to the stability of the entire European electricity market. These states emphasize that without the support of nuclear energy, the EU would struggle to provide its citizens with affordable and abundant low-carbon electricity, particularly in view of the goal of achieving net-zero emissions by 2025 2400 1223283 reported.

At the same time, significant measures were adopted to reform the European electricity market in order to better protect consumers from extreme price increases. The reform is a direct response to the dramatic increases in energy costs in 2022, mainly caused by high gas prices due to the Ukraine conflict and the failure of numerous French nuclear power plants. The new regulations aim to make the electricity market more stable, affordable and sustainable. In the future, consumers will be able to choose between fixed-price contracts and dynamic prices, which will enable them to benefit from price fluctuations. It also ensures that providers are not allowed to change the contract terms unilaterally to ensure a fair pricing policy. These developments have been reinforced by the introduction of so-called “Contracts for Difference”, which are intended to create incentives for investments in renewable energies, including nuclear power daily news reported.