Cefic statement on the European Commission’s proposal to improve the EU’s Electricity Market Design
![Cefic statement on the European Commission’s proposal to improve the EU’s Electricity Market Design](https://cefic.org/app/uploads/2023/03/shutterstock_2109724295-scaled-1-1024x686.jpg)
- The chemical industry is one of the largest energy-intensive industries in Europe and the single largest industrial consumer of electricity: 165TWh in 2021 (source: Eurostat), which is roughly 10% of Europe’s total electricity yearly consumption. This number is going to increase in the years to come.
- Electrification and access to affordable renewable and low-carbon energy are fundamental for climate neutrality and the chemical industry of the future. If there is one thing that the electricity market design must get done is to ensure a steady flow of affordable renewable and low-carbon electricity for industrial installations.
- We are committed to support the work of the European Institutions in improving the electricity market design to deliver competitive, secure, and sustainable electricity supply.
Brussels, 14 March 2023 – The chemical industry is the single largest industrial consumer of electricity in Europe: in 2021 alone, it consumed 165TWh of electricity, which is roughly 10% of Europe’s total electricity yearly consumption. ,
The industry’s electricity needs will only grow as we are now rolling out new low-carbon technologies (e.g. e-crackers, heat pumps, electrolysers) to reduce our emissions and continue producing chemicals in a more climate neutral way.
Nicola Rega, Cefic Executive Director Climate Change & Energy:
“The chemical industry will need more of climate neutral electricity in the decades to come to achieve the 2050 goals and we will need it at a much lower price. As our sector competes on the global market, the higher electricity price we pay, the lower our competitive advantage. If there is one thing that the new electricity market design should get done is to ensure a steady flow of affordable climate neutral electricity for industrial installations.
A well-designed, future-proofed, pan-European and seamlessly integrated electricity market is an essential tool to building a strong, sustainable and competitive European chemical industry. Cefic members are committed to supporting the EU institutions’ efforts to improve the electricity market and deliver competitive, secure, and sustainable electricity supply.”