During a debate with MEPs in Strasbourg on Wednesday 8 June, European Commission President Ursula von der Leyen questioned the current functioning of the EU’s wholesale electricity market.
“This market system does not work anymore. We have to reform it. We have to adapt it to the new realities of dominant renewables”, she responded to interventions from several parliamentarians on rising energy prices.
In her view, the problem with the wholesale electricity market is that gas now...