A fourth energy package? Summer proposals to amend EU energy market regulationsPublished: 26 of October, 2015

In July 2015 the European Commission published a package of proposals to amend the regulation of the energy markets. The “summer energy package” includes the modification of regulations governing the operation of the emission trading system and the application of energy labels, proposals contributing to the protection of consumers as well as their market participation, and the transformation of the operating model of the electricity market. Below we introduce the most important elements of the package and evaluate their likely impact.
First the new electricity market model drafted by the Commission is examined, focusing on recommendations that aim to enhance the market participation of consumers via distributed renewable energy that they produce and consume. In the second part of the article we inspect the climate change regulation. After reviewing the voluntary emission reduction commitments released before the Paris climate conference, the individual regulatory proposals meant to guide the EU to its 40% emission abatement target are assessed.