The energy council on 17th of October reached an agreement on the electricity market design proposal.
Attila Steiner State Secretary Head of the Hungarian delegation emphasised that even though the general approach included several positive elements to incentivise investments in low carbon technologies which are crucial for the energy transition and acknowledges the role of nuclear energy as a necessary clean energy source for the secure and sustainable decarbonisation of the economy Hungary could not support the proposal, as it does not provide enough flexibility for the Member State to apply price regulation below cost if that is necessary to prevent excessive energy prices for the protection of household consumers in case of energy crisis.
The council also received an update from Herman Halushchenko, minister of energy of Ukraine on the current state of Ukraine’s energy system and discussed the preparedness level of the Union for the 2023/2024 winter season. Estonia and Finland gave a brief summary of the investigation into the drop of pressure and leaks detected on the Baltic pipe.
