Leaders discuss EU energy policy priorities
© Roman Sakhno - Fotolia.com
Yesterday, the European Council held what European Council President Van Rompuy has defined as a 'strategic debate' on the EU's energy policy. This policy aims at providing both households and companies with affordable and competitively priced energy in a safe and sustainable manner.
Heads of state or government held discussions around four strands of the EU policy:
(1) completing the internal energy market
(2) energy efficiency
(3) investments in the energy infrastructure and
(4) diversification of energy sources, including indigenous resources.
The heads of state and government reaffirmed their commitment to turning 27 markets into a true single European energy market by 2014 and stated that no country should be left unconnected to the common grid by 2015.
Leaders particularly pointed out that significant investments in a new and intelligent energy infrastructure are needed to secure the uninterrupted supply of energy at affordable prices. It is also vital for jobs and sustainable growth and will further help enhance competitiveness.
In the summit conclusions leaders outline that it remains crucial to further intensify the diversification of Europe's energy supply and to develop indigenous resources to ensure security of supply, reduce the EU's external energy dependency and stimulate economic growth.
In order to address the impact of high energy prices and costs, EU leaders stressed that measures promoting energy efficiency can make a significant contribution. In this context leaders also called for work to be done with regard to:
- innovative financing methods, the diversification of supply and improved liquidity in the internal energy market
- the issue of contractual linkage of gas and oil prices
- an analysis of the composition and drivers of energy prices and costs that the Commission intends to submit before the end of 2013.
The Council will report back on the implementation of these guidelines before the end of the year.
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