Europe’s chemical and wind industries call for electricity markets to support investments in renewables

In an open letter sent to the European Commission, WindEurope and Cefic identify key priorities for the upcoming Electricity Market Reform.

Marco Mensink, Director General of Cefic, stated: “Electrically heated steam cracker, electrolysers, heat pumps: many of the technologies that we need to create a carbon-neutral chemical industry depend on the access to abundant and cheap renewable energy. This is why the chemicals industry joins wind energy producers in a call for a fully integrated and future proof electricity market. Short-term measures to solve the current energy crisis and increase availability of supply are important but they are not enough. Only thought-through long-term EU electricity market design can deliver a strong, sustainable and competitive Europe.”

Giles Dickson, WindEurope CEO, said: “Europe is moving towards a decarbonised energy system with very high shares of renewables. The current energy crisis will only reinforce and accelerate this process. Europe’s chemicals industry and other energy-intensive sectors want to decarbonise their production processes – and invest in renewables-based electrification and renewable hydrogen. They agree with the wind industry that we need a long-term EU electricity market design that unlocks and supports these much-needed investments. A patchwork of national emergency measures will not do.”