Design of the European Electric Market has not contributed to surge in electricity prices

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Design of the European Electric Market has not contributed to surge in electricity prices

BRUSSELS, September 22 Reuters : The design of the European Electric Market has not contributed to the recent surge in electricity and gas prices, the bloc's top energy official said on Wednesday.

I don't think that electricity market design has contributed to the price increase. Alternative pricing models would deliver a similar price, EU energy commissioner Kadri Simson said on Wednesday.

The European Commission on Monday called on the European Commission to respond to the high energy prices and suggested that reforming the EU's power market rules could allow consumers to profit more from the growing share of low-cost renewable energy in the system.