2/7 Capacity markets are an energy security tool in 🇫🇷 🇬🇧 🇧🇪 🇵🇱 🇮🇹 🇮🇪. Auctions are held, with contracts then provided to energy companies to ensure electricity demand can be met - but plants may never be called on to provide power. These contracts are then paid for via energy bills.
In Europe, just 10 companies have received contracts worth €21.4B across 🇫🇷 🇬🇧 🇧🇪 🇵🇱 🇮🇹 🇮🇪. These fossil gas freeloaders aren’t just making consumers’ foot the bill, but in cases, these companies have been found to be actively delaying the energy transition.
4/7 In Poland, companies like PGE don't even hide how capacity markets benefit them. It’s a blow to households and businesses across 🇵🇱 that are investing in renewable energy, only for their efforts to be undermined by a subsidy system that helps fossil fuel companies to gatekeep the power market.
5/7 Czech energy giant EP Group, the parent company of EPH, has raked in over €4 billion in capacity contracts awarded by national governments to gas plants since 2015. It’s aggressively developing fossil gas assets all over Europe and greenwashing its image.
