On 18 May 2022, the European Commission presented the REPowerEU plan outlining how the bloc plans on rapidly becoming independent of Russian oil and gas in light of the current geopolitical situation. This includes a suggestion to use renewable energy purchase agreements for European industries and businesses to have direct access to affordable renewable power to increase energy security and affordability in the EU. We assume this to result in temporary bearish price pressure in the short-term, while mid-to-long-term we see prices being supported via additional demand from conversion use cases such as green hydrogen.
Commission issues guidelines to speed-up renewable project permitting and PPAs
The European Commission staff working document includes guidelines for Member states on the best practices to speed up permitting-granting procedures for renewable energy projects and on facilitating Power Purchase Agreements.
The following recommendations were made regarding the Guarantees of Origin (GoO) markets:
Stay ahead in renewable energy and carbon markets.Â
Sign up to receive expert analysis, market insights, and key policy updates—straight to your inbox, for free.
Specialising in data, analysis, and insights for all significant low-carbon markets and renewable energy.
