The 1973 oil crisis triggered a multi-faceted policy response, including first steps in 1976 towards what later became the well-known ๐๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐๐๐๐ฅ ⚡ ๐ 50 years ago, on 4 May 1976, a Council recommendation on the rational use of energy for electrical household appliances was adopted. It was the first time an EU measure addressed informing the public about the energy consumption of appliances. It called on EU countries to introduce standardised energy labels for refrigerators, washing machines, cookers, televisions and more.⏩ Fast forward 50 years!Europe is dealing with the second fossil fuel supply crisis within 5 years. Energy efficient product legislation is still playing its part, informing consumers, but also helping reduce our energy dependence and our energy bills. The Commission estimates that ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ๐ฌ ๐๐๐ง ๐ฌ๐๐ฏ๐ ๐ฎ๐ฉ ๐ญ๐จ €317 in expenditures per year (in 2024 prices) from more energy efficient products alone!๐ The first product with an EU energy label, refrigerators, are today regulated in 80 jurisdictions around the globe. ๐ ️ Along the way, EU energy labels have accommodated also non-energy criteria, such as reparability or other consumer relevant information.
The EU’s wholesale electricity prices vary across location and over time due to several influencing factors. But, what exactly causes these price differences?⚡ Each EU country chooses its own energy mix. The cost for building and running a power plant is different depending on the chosen energy source (wind, nuclear, gas, etc.) and this directly influences the final electricity price.๐ The extent of interconnectivity between EU countries affects wholesale prices, which means that well-connected countries can import and export electricity more easily and efficiently, allowing cheaper and cleaner resources to be used first.๐ฅ Competition between producers can drive electricity prices down, especially in markets with a high share of renewable energy, where costs are typically lower. It also encourages efficiency and innovation among producers, leading to cost reductions which can be passed on to consumers.⛈️ Weather and seasonal conditions affect electricity prices. Periods of extreme cold or heat increase demand for heating and cooling, pushing prices up, while strong wind, rainfall, or sunshine can lower prices by increasing renewable energy generation.
