**Energy Transition Calls for Reforms in Electricity Markets, Says CERA Chief**
In a recent analysis, Andreas Poullikkas, Chairman of the Cyprus Energy Regulatory Authority (CERA), emphasized the need for substantial reforms to facilitate the energy transition towards renewable energy sources. Reflecting on the historical context and the challenges that electricity markets face in this transformative period, Poullikkas highlighted the significant changes from the stability of past energy systems to the current environment marked by uncertainty and complexity.
The energy sector’s regulation, a process that began in the 1990s, now faces further transformations to accommodate the shift to renewable energy. According to Poullikkas, this ongoing transition is disrupting traditional conditions, necessitating a reevaluation of how electricity markets are regulated to ensure adaptation, sustainability, and a reduction in greenhouse gas emissions.
Key challenges include minimizing curtailment rates of renewables, advancing investments in infrastructure, and embracing storage and hydrogen technologies. The CERA chairman also pointed out that determining the beneficiaries of market reforms is critical.
Poullikkas advocated for the expansion of wind and solar power, which requires significant investment in new technologies and network redesigns to efficiently utilize generated energy. Additionally, he underlined the importance of a unified EU electricity market in stabilizing prices and enhancing supply security by connecting member states through a single electricity system.
The EU’s internal market is essential in promoting competition, fostering innovation, and integrating renewable energy sources efficiently. The role of technological advancements in smart metering and energy management was also noted, empowering consumers to actively participate in electricity markets.
Concluding his analysis, Poullikkas stated that policy frameworks supporting sustainability, research, and innovation in the electricity sector, along with promoting energy efficiency, are vital components of these much-needed reforms.
As the EU and individual member states like Cyprus continue on the path of the energy transition, regulatory frameworks will play a pivotal role in shaping the future of electricity markets and fostering the growth of renewable energy sources.
