ACER: Whilst Gas Wholesale Markets For The Most Part Function Efficiently, Challenges Remain For Both Electricity And Retail Energy Markets Across Europe

Progress has been identified regarding the integration of the gas and electricity wholesale markets in the EU with an estimated 75% of the gas consumed benefitting from well-integrated markets. However, significant challenges remain in delivering a well-integrated electricity market with delays in the delivery of market coupling and insufficient utilisation of interconnectors hampering progress. At the retail level, markets continue to show divergences between Member States regarding the price paid for energy and the level of consumer engagement. In some markets, supplier switching rates and therefore access to better prices exceed 20% while in others switching rates are much lower.

These are some of the findings of the latest report on the results of monitoring the internal electricity and gas markets (MMR) presented today via a webinar by the European Union Agency for the Cooperation of Energy Regulators (ACER) and the Council of European Energy Regulators (CEER). The MMR consists of three volumes: Electricity Wholesale, Gas Wholesale and Retail and Consumer Protection. The research carried out with the support of the Energy Community focuses on 2019, but it also includes insights regarding the impact that COVID-19 is currently having on Europe’s energy markets.