EU says power market design not responsible for energy price spike

BRUSSELS, Sept 22 (Reuters) - The design of the European Union's electricity market has not contributed to the recent surge in European power and gas prices, the bloc's top energy official said on Wednesday.

"I don't think that electricity market design has contributed to the price increase. Other alternative pricing models would deliver a similar price," EU energy commisioner Kadri Simson said on Wednesday.

Spain on Monday asked the European Commission to do more to respond to the high energy prices, and suggested that reforming the EU's power market rules could allow consumers to benefit more from the growing share of low-cost renewable energy in the system. (Reporting by Kate Abnett, editing by Robin Emmott)

Advertisement