Brussels is promoting the reduction of energy consumption in the EU and long-term trade agreements

The European Commission is drawing up plans to reform the bloc's electricity market, including electricity reduction targets and guarantees for long-term business contracts, the Financial Times reports. He claims the move was prompted by the energy crisis, as electricity prices are tied to gas prices, meaning pressure on gas supplies has driven up electricity costs. However, the article states that the proposal does not include "extensive market reform" but consists of measures to allow network operators to promote reductions in peak-time consumption and requirements for EU member states to set targets for demand reduction and electricity storage. It also proposes financial guarantees to encourage smaller companies to enter into long-term "power purchase agreements".

The Guardian reports that the European Commission's industrial plan for the Green Deal, due to be published next week, will be discussed at a Brussels summit later this month. It notes that the proposed plan, which includes a new target to produce at least 40 % of clean technologies in the EU by 2030, would be part of a wider effort to speed up progress towards net-zero emissions and support mining and extraction of critical raw materials in Europe. The commission is proposing that zero-emissions technology plants be speeded up from seven years to one year for building permits if they are deemed "strategic," the paper continues.

Alice Hancock, Financial Times, "Carbon Brief"