Most of the risk in the electricity market rests with the consumer.
This is the conclusion of a report by the Court of Auditors of the European Union, published on Tuesday, on the situation of the European electricity market.
Much criticized in France for its constraints, which prevent the country from benefiting from the low costs of nuclear power, it is also struggling to meet its integration objectives, depriving the continent of low prices which would benefit consumers and manufacturers.
To discover
Pension reform: calculate the age at which you will finally leave
Read alsoBooklet A, electricity, Covid-19... What changes from February 1, 2023
“The current energy and cost of living crisis facing EU citizens makes it even more urgent for the EU to finalize its internal electricity market,”
comments Mihails Kozlovs, Member of the Court of Auditors of the EU, which led the audit, while the Commission must propose avenues for reform in the spring.
With their gradual opening up to competition from 1996, Europe aimed to fully integrate the national electricity markets from 2014 to guarantee low prices for individuals and businesses, but, even today,
"it still does not is only slowly approaching its objective”,
regrets the institution in its report.
Read alsoThe great return of customers to EDF, driven by the rise in electricity prices
In practice,
“the market is still governed by 27 national regulatory frameworks”,
with wholesale prices varying
“significantly”
from state to state, while retail prices remain determined by national taxes and royalties network rather than competition.
In addition, the Court of Auditors deplores an
"imperfect"
monitoring of market abuse and manipulation.
