Europe’s electricity markets suffer the effects of massive upheaval; Swissgrid developed suggestions for new market design

Swissgrid has developed suggestions for a new market design. Discussions with the industry will begin today as part of a consultation process. The aim is to further develop the electricity market and improve its efficiency in future.

Frick, Switzerland, 16-12-2015 — /EuropaWire/ — Europe’s electricity markets are suffering the effects of massive upheaval. Innovative energy technologies replace conventional systems, new providers are entering the market, and electricity sales and trading are evolving. These developments are in part driven by the European Union and its member states, by way of reforms for continuous development in the internal energy market and for the transition to lower CO2 emissions. Switzerland is facing similar challenges thanks to the Energy Strategy 2050.

In light of these changes, Swiss transmission system operator Swissgrid has worked closely with numerous market participants to develop suggestions for a new market design. The suggestions are based on existing market design principles, such as those for the «energy-only market», efficient trade mechanisms and European integration of the electricity markets. Specifically, the suggested reforms are intended to strengthen price signals, optimise cross-border trade and develop a regional approach to security of supply.

On 11 November 2015, Swissgrid presented details of its suggestions for the first time at a meeting with balance group representatives. Today, Swissgrid is launching the informal consultation. All Swiss and European partners in the industry will have the opportunity to take part in the debate surrounding market reform. International participants will also have the chance to decide whether to introduce similar reforms in their own countries. As such, the consultation serves as the central element in a transparent decision-making process, which is designed to set out a joint path for the next few years.

The consultation period ends on 16 February 2016. Swissgrid will consolidate the responses and make this information available to all involved parties. For further information and to obtain access to take part in the consultation, please e-mail here.

SOURCE:  Swissgrid

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