image credit: Adobe Stock

EU states strike deal on electricity market reform

October 17, 2023

EU member states reached an agreement to reform its electricity market after months of sparring between France and Germany over state support for nuclear energy, the European Council said Tuesday.

The European Union’s plans to make the market less vulnerable to volatility were a response to Russia’s invasion of Ukraine, which sent energy prices spiraling for consumers and businesses last year.

The reform aims to cut households and businesses’ bills with long-term contracts to smooth out the impact of gas price volatility.

Read More on Tech Xplore