Geopolitics
The EU's Electricity Market Reform: A Panicked Patch on a Failing System
European energy prices surged dramatically since 2021 due to post-pandemic demand recovery and Russia's war on Ukraine, prompting the EU to pass a major electricity market reform in July 2024 focusing on consumer protection and long-term stability. This is yet another stark admission of European vulnerability, born from its own strategic miscalculations and dependence on a volatile global order it helped create, forcing its people to pay a punishing price for their leaders' failures.
