Differences between France and Germany slow down the reform

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The agreement to close a consensual text on the reform of the electricity market was not on the formal agenda of the summit of European energy ministers held on Tuesday and Wednesday in Valladolid, but it was behind the scenes. On July 19, the text agreed upon by MEPs will be voted on in the European Parliament, so reaching an agreement between countries would also have accelerated the reform process. But it could not be. In fact, the Valladolid meeting has served to stage the great gap that is opening between the countries in favor of promoting renewables, led by Germany, and the defenders of nuclear energy grouped around France in the Nuclear Alliance. The Spanish minister of the sector and host of the meeting confirmed this Wednesday that there is no date to start the reform although the objective remains to close it before the end of the year.

Ester Herrera Teresa Ribera confirmed at a press conference that they are working to have an agreement as soon as possible in which all countries are represented even if they all have to give in. “We could Job Function Email Database have a qualified majority, but we prefer not to leave some countries in the minority and for all countries to participate,” she said. In any case, the Commissioner for Energy, Kadri Simson, made the position of the community executive clear by ensuring that at the G-20 energy ministers' summit to be held next week in India, the EU will propose a global objective to triple the global rate of renewable energy deployment by 2030 on a voluntary basis, as well as double the rate of energy efficiency improvements in this decade compared to the previous one.



Kadri Simson also announced a high-level event in early September to bring together all energy transmission, distribution and supply chain stakeholders to work on production capacity.The U.S. government's latest update on inflation showed that consumers paid prices for gasoline, food and other items that were 3% higher overall in June than a year earlier. That's below inflation of 4% in May and just over 9% last summer. Perhaps most importantly, it was a little lower than economists expected. High inflation has been at the center of Wall Street's problems because it has led the Federal Reserve to raise interest rates at a dizzying pace. Higher rates undermine inflation by slowing the entire economy and hurting investment prices, and have already caused damage to banking, manufacturing and other industries.