After today’s webinar by ACER on its Final Assessment of the EU Wholesale Electricity Market Design the All NEMO Committee supports the Agency’s statement “that the current electricity market design is not to blame for the current crisis. On the contrary, the market rules in place have to some extent helped mitigate the current crisis”.
NEMOs are committed to safeguarding the operation of the Day-Ahead and Intraday market coupling in these turbulent times. Electricity markets have already proved to be resilient and reliable in the context of the COVID-19 outbreak and continue to be so.
Regarding emergency measures, the All NEMO Committee has stated that:
• any measure shall be part of an approved EU-wide toolbox, that can be applied either nationally or at the EU level;
• any such measure shall not undermine the existing wholesale market operation and price formation and shall not change its current design and operations either at central or local level;
• the financing mechanisms for the short-term options, which are part of the EU-wide toolbox, should be ideally defined at the EU-level.
The All NEMO Committee also acknowledges the measures proposed by ACER for the consideration of policymakers. In particular, removing barriers to flexibility, ensuring grid expansion and speeding up electricity market integration are the right measures to improve the efficiency and functioning of the market.
About All NEMO Committee:
The All NEMO Committee facilitates the cooperation among NEMOs for all common European tasks necessary for the efficient and secure design, implementation and operation of single day-ahead and intraday coupling. The All NEMO Committee is formed by the appointed representatives of each NEMO.
For additional information about All NEMO Committee go to: