European Parliament Endorses EU Electricity Market Reform ...Middle East

The European Parliament adopted on Thursday a proposed reform in the bloc’s electricity market to make power prices less dependent on volatile fossil fuel prices and accelerate the deployment of renewable energy sources. The Parliament passed the legislation with 433 votes in favor, 140 against, and 15 abstentions.   Following the energy price spike in 2022 after the Russian invasion of Ukraine, the EU has been seeking to reform the way its electricity market works to avoid a repeat of the energy crisis which hit households…

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