INFOGRAPHIC: What is Fit for 55 and how would it affect electricity markets?

Author: ICIS Editorial

2021/07/16

LONDON (ICIS)--The European Commission released on 14 July a “first batch” of legislative proposals aiming at creating the needed policy infrastructure for hitting the new 2030 climate targets. Out of the thirteen pieces of legislation part of the Fit for 55 package, five are set to play a significant role in the European electricity sector.
  • Recast of the Renewable Energy Directive
  • Revamp of the Emissions Trading Scheme
  • Carbon Border Adjustment Mechanism
  • Revision of the Energy Efficiency Directive
  • Revision of the Effort Sharing Regulation
Yet, a period of no less than two years will pass before the package’s final approval, leaving ample room for stakeholders to have a say on the draft.