EU’s Power Market is Failing to Curb Manipulation, Watchdog Says
- Electricity producers, brokers able to exploit loopholes: ECA
- Report comes just weeks before a reform of EU’s power market
Power lines in Cordemais, France.
Photographer: Loic Venance/AFP/Getty Images
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The European Union’s electricity market is vulnerable to exploitation due to its failure to integrate better across national boundaries, according to a report by the bloc’s auditing watchdog, highlighting the challenges the bloc faces ahead of a crucial reform.
Despite nearly three decades of development, the EU’s power market is still governed by 27 national regulatory frameworks, which opens the door to “abuse and manipulation,” the European Court of Auditors said in a report Tuesday.