The European Parliament’s Energy Committee has approved a reform to the EU Electricity Market Design which stopped short of making Contracts for Difference (CfD) mandatory for renewable energy projects, as previously proposed by the Commission. However the reform still verbally supports the expansion of CfDs, with lead MEP Nicholas Gonzalez Casares stating “We turned CfDs into the reference system for encouraging the electricity sector to transition towards a renewable-based zero-emission system. A system that will improve and make companies more competitive through clean electricity at stable prices.” The European Commission has also been requested to establish a PPA marketplace by the end of 2024, with the intention of providing predictable revenues and costs to developers and consumers respectively. Nicolas Gonzalez…