Since 2021, the EU has experienced a remarkable increase in energy prices that reached crisis proportions in the wake of Russia’s unprovoked invasion of Ukraine and subsequent risks to and cut-offs of energy supplies. In response, the EU has announced a series of emergency measures to mitigate the impact of the unfolding energy crisis on the economy and protect its citizens.
The 2022 CEER Annual Conference brought together high-level speakers from energy regulators (CEER and ACER), DG ENER, industry associations, and consumer organisations, among others under the theme Short-Term Measures vs Long-Term Design: Regulating the Future Energy Market. Together they looked at the measures currently being put in place and considered whether long-term adjustments will be needed to the electricity market design – or not.
For the first session, participants examined the topic of Emergency Measures – How to cope with high energy prices and assessed how effective the emergency measures implemented by the EU and national governments are in dealing with the current challenges. It also examined whether the immediate reaction is adequate as we approach winter and whether consumers remain protected.
The second session focused on the theme of Market Design – Long-term adjustments or tweaks? and considered if the current situation has potentially highlighted flaws in the internal market design. It explored the question of whether we need to reconsider aspects of the EU’s market design, in view of the high prices that we continue to experience.
Photos from CEER Annual Conference 2022