New EU rules aim to make power cheaper when the sun shines
Surge in intermittent renewable energy has led to price swings that demand flexible approach
Paris
UTILITIES in the European Union may have to offer more flexible prices from 2020 to encourage consumers to use more electricity when supplies are abundant and cheap, according to proposed new rules, a top EU official said.
Most European utilities sell at fixed prices, regardless of price swings on wholesale markets, which makes sense when most power comes from coal and nuclear plants that are always on.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices