The European Commission and the European Parliament have stepped up efforts to issue an energy policy announcement,foreign media reported.
One analyst said recent EU policy announcements could boost the energy storage market but also reveal the inherent weaknesses of the EU's free electricity market.
Energy was a prominent theme in European Commission President Ursula von der Leyen's State of the Union address on September 14,following a series of proposals for market interventions by the Commission,followed by the European Parliament's approval of the 45%renewable electricity adoption target by 2030 set by RePowerEU earlier this year.Some members of the European Union have also raised their targets.
"There's no question that the more intermittent renewables you have on the grid,the more flexible the technologies you need to integrate them,such as energy storage systems,"said Corentin Baschet,head of market analysis at energy storage consultancy Clean Horizon.
The Commission's proposal for temporary market intervention to alleviate the energy crisis,which will intensify significantly over the winter,has three aspects.
The first aspect is the mandatory target of a 5%reduction in electricity consumption during periods of peak demand.The second aspect is to cap the revenues of energy producers with low production costs,such as renewables and nuclear power,and reinvest these excess profits to support the vulnerable.The third aspect is a windfall profits tax on the high profits made by oil and gas companies.
According to Baschet,some energy storage systems charge and discharge twice a day(the night before and that morning,then that afternoon and evening).
"However,these measures are valid from December 2022 to the end of March 2023,which means there is not enough time for deployment.What will determine whether energy storage systems benefit from this obligation is the range of measures that countries take to meet this obligation."
"We can see some residential and commercial and industrial(C&I)customers installing and commissioning energy storage systems during this period to reduce their peak demand,but these have minimal impact on the overall power system,"he added.
Baschet said the more telling aspect of the EU announcement was not necessarily the interventions themselves,but what they revealed about today's energy markets.
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