Eurelectric is a staunch supporter of the Green Deal, the energy transition and the EU ETS as the most central climate policy tool for the decarbonisation of the EU economy. In addition, we are firmly committed to near-term solutions that get Europe off Russian fossil fuels on to a more secure, decarbonised domestic electricity supply. However the headlined proposal by the European Commission runs counter to such aims.
We ask the European Parliament and the European Council to reject the European Commission’s proposal to release a very large amount of surplus EU ETS allowances from the Market Stability Reserve (MSR). We furthermore request the European Commission to assess alternative financing means which would not negatively impact its flagship EU climate policy. Just like other legislative proposals, it should also be accompanied by a proper Impact Assessment and be subject to a public consultation with all relevant stakeholders.
The proposed measure:
- Risks destabilising the carbon market and investor confidence
- Runs counter to the RePowerEU and the Green Deal objectives
- Does not necessarily entail increased funds for the transition