German economy minister: will speed power market reform in 2023
FRANKFURT, Feb 20 (Reuters) - German Economy Minister Robert Habeck on Monday said that a process to adjust the country's electricity market design to plans for large reliance on renewable power by the end of the decade will be swift.
"We will do most of the necessary work in 2023," he said at a consultation.
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Habeck aims to overhaul the 550 terawatt hours-a-year (TWh) market, which will see usage rise amid electrification while production will rely more on intermittent sources, as Europe's biggest economy moves away from fossil fuels under its climate commitments. (Reporting by Vera Eckert, editing by Miranda Murray)