European energy strategy must reconcile the need for flexibility

Over the last 12 months, we have witnessed an unprecedented crisis in the European energy markets. This was caused, among others, by the war in Ukraine, the growing effects of climate change, and the unavailability of the French nuclear fleet. Europe’s response to those challenges is an even faster acceleration of renewable buildout in Europe. As we rediscover the meaning of security of supply, it is time to better understand the value of flexibility as a critical enabler of the energy transition. European policy makers need to strengthen the role of flexibility technologies, including energy storage, in future Energy Market Design.