Statkraft joins leading power companies in call to safeguard EU ETS and strengthen Europe’s competitiveness

Statkraft, Europe’s largest renewable energy producer, joins seven other major European power companies in a joint call to EU leaders, urging them to reinforce Europe’s competitiveness by safeguarding the EU Emissions Trading System (EU ETS), preserving the internal electricity market and marginal pricing, and accelerating decarbonisation. 

In a letter addressed to European Commission President Ursula von der Leyen and European Council President António Costa, Statkraft, Fortum, Vattenfall, Iberdrola, EDP, Ørsted, EDF and Engie warn against dismantling well‑functioning market mechanisms that underpin investment, security of supply and affordable energy across Europe.  

“Weakening the EU ETS will not solve Europe’s competitiveness challenges. On the contrary, it can lead to increased uncertainty and slow down the power sector investments Europe urgently needs. The EU has already decided to reduce its emissions by 90 percent by 2040. The EU ETS delivers a clear and credible price signal that guides long‑term investment into renewable power, flexibility and electrification. It is the backbone of Europe’s net zero strategy,” says Birgitte Ringstad Vartdal, President and CEO of Statkraft.  

The companies stress that Europe stands at a critical crossroads: Either accelerate the energy transition and innovation to close the competitiveness gap, or risk undermining decades of progress in European energy and industrial transformation. Predictable policy frameworks are essential to unlock the massive investments needed to deliver fossil‑free, domestically produced electricity at scale. Parts of European industry are currently under severe pressure, facing growing uncertainty that can threaten competitiveness. Access to sufficient, affordable electricity is a central part of the solution.  

“Europe’s integrated electricity market has delivered lower costs, higher efficiency and greater security of supply. Marginal pricing ensures that electricity is produced and consumed at the lowest possible cost, while providing investment signals for new generation and flexibility. Fragmentation would come at a high price for consumers and weaken Europe’s global competitiveness,” Vartdal says.  

The letter highlights that ETS revenues offer a powerful opportunity to support European industry through transition and electrification without putting additional pressure on public finances. The companies encourage EU leaders to enable efficient redistribution of ETS revenues and to swiftly establish the Industrial Decarbonisation Bank announced under the Clean Industrial Deal.  

Read the joint power industry letter on EU ETS and marginal pricing here.