The integration of electricity markets optimises the use of assets across Europe. This leads to more efficient market participation by all agents and ultimately to more cost-efficient energy delivery to consumers. The efficient operation of existing interconnections and adequate interconnection capacity facilitates the integration of power markets, the integration of renewables to the market, and contributes to security of supply.
The current PCIs will considerably improve interconnection levels between European countries. At the end of 2014, 20 European countries had interconnection levels above 10%. Day-ahead markets were further coupled in 2014 and 2015. The Multi-Regional Coupling (MRC) now covers 19 countries, representing around 85% of European power consumption.
In Europe, Wholesale prices continued to linger at a low level in comparison with the costs of power generation technologies and storage.