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The European Securities and Markets Authority (ESMA) has embarked on a comprehensive review of the European Union’s (EU) energy market design, with a focus on the post-2025 period. This review aims to assess the effectiveness of the current market framework and identify potential improvements to enhance competition, efficiency, and security of supply.
ESMA’s review of the post-2025 market design is expected to be completed by the end of 2025. Following the review, ESMA will submit a report to the European Commission with recommendations for legislative changes. The implementation of the new market design is likely to take several years, with a phased approach to ensure a smooth transition.
ESMA has engaged with a wide range of stakeholders throughout the review process, including industry representatives, consumer groups, regulatory authorities, and academia. A public consultation on the proposed post-2025 market design was held in 2025 to gather feedback from all interested parties.
The post-2025 market design presents both challenges and opportunities for the European energy sector. Some of the key challenges include:
Despite these challenges, the post-2025 market design also offers significant opportunities, including:
The post-2025 market design is a critical initiative for the future of the European energy sector. By addressing the challenges and seizing the opportunities presented by the energy transition, the new market framework aims to enhance competition, efficiency, security of supply, and the integration of renewable energy sources. The successful implementation of the post-2025 market design will play a vital role in shaping the future of the European energy system and its ability to meet the evolving needs of consumers and the economy.
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