Future-proof electricity market needed to reach ambitious climate targets

A future-proof electricity market that would incentivise investments in renewable and low-carbon electricity production is key to reach the EU’s ambitious climate targets and guarantee security of supply.

This was the key message of BusinessEurope President Fredrik Persson and Director General Markus J. Beyrer to the European Commissioner for Energy Kadri Simson in a meeting on 20 June. While gas prices have been recently decreasing, they are not expected to come down fully to pre-covid levels at least until 2026/2027.

Persson and Beyrer warned that if the cost differential is not addressed, aside from the industrial shutdowns already observed, it will have serious consequences for the long-term competitiveness of European companies and EU’s global strength.

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Recovery of the earthquake region in Türkiye

Private sector contribution is key to address immediate needs and ensure sustainable reconstruction. This was the main conclusion of a discussion on 20 June with Ambassador Faruk Kaymakcı, Permanent Delegate of Türkiye to the EU; Henrike Trautmann, Acting Director responsible for Neighbourhood South and Türkiye at the European Commission; and our member federations TISK and TÜSİAD.