Insight from Brussels: Renewables win in new EU power market design

Renewables are the big winners in the European Union’s new power market rules, which are designed to help the grid cope with ever increasing shares of variable sources such as wind and solar. This is part of the EU’s long-term push to cut its greenhouse gas emissions and reduce fossil fuel imports. At the end of 2018 it adopted a binding target to source at least 32% of its final energy demand, including heating and transport, from renewables by 2030. That translates into sourcing more than half its electricity from renewables by 2030, up from around 30% today, and that upwards trajectory will only continue as the EU seeks to decarbonize its economy by 2050. The EU’s new power market design regulation, which is expected to become binding in 2019, aims to create a flexible, responsive and integrated grid, able to cope with renewable inputs that vary hugely from day to day and from country to country. In Denmark, for example, which has for years invested heavily in wind, the share of renewables in its power output varied from zero to 100% within 2017, according to formal EU power grid operators’ body Entso-e. That worked out as around 70% on… continue reading

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