Europe’s single market is widely regarded as the jewel in the crown of EU integration. However, the energy crisis of 2022 showed that its electricity and gas markets remain fragmented, exposing the bloc to economic and security risks. 

Cracks are felt in the day-to-day work of producers, traders, suppliers and end consumers as they struggle with complex red tape and high costs.

ICIS highlighted some of these challenges in a recent white paper. A report published by Energy Traders Europe on 24 February highlights the constraints and the possible solutions to deepening the EU electricity and gas markets.

As the need to create an Energy Union is now at the top of policymakers’ agenda, ICIS reporter Aura Sabadus speaks to Mark Copley, CEO of Energy Traders Europe, and ICIS EU policy expert, Gretchen Ransow, about solutions to achieve consistency and alignment across the bloc and with neighbouring countries.