WindEurope has urged European leaders not to revisit the European Union’s recently agreed electricity market design, warning that policy uncertainty could undermine investment in renewable energy.
The call follows discussions at the European Leaders Summit in Alden Biesen, where some heads of government floated the idea of reviewing the 2024 electricity market framework.
WindEurope said the most effective way to lower power prices is to expand clean electricity supply supported by clear, market-based investment signals. Reopening the market design, it warned, risks freezing investment and increasing Europe’s reliance on fossil fuel imports.
The organisation added that political interventions during the 2022 energy crisis had already dampened activity, with wind investments falling to their lowest level since 2009 and turbine orders dropping 47% year on year.
Tinne van der Straeten, chief executive of WindEurope, said: “Right question, wrong answer. The European leaders rightly discussed how to reduce power prices to ensure Europe’s industrial competitiveness. They are right that this will require much more renewable electricity.
“But tampering with the EU market design is the wrong answer. The Summits in Antwerp & Alden Biesen were meant to mobilise investments and shore up competitiveness. It would be deeply ironic if they ended up freezing the clean energy investments Europe needs to stay competitive.”
Van der Straeten added that Europe already has tools to stabilise energy prices and protect consumers from volatility.
“Together with the EU and national Governments we now need to agree on targeted measures to align electricity supply and industrial demand. And we must make greater use of Power Purchase Agreements and Contracts for Difference. They unlock investments by minimising capital costs, and give long-term visibility on electricity prices.”
