In a statement EURELECTRIC, Eurogas, EPIA and EWEA commended the new European Commission’s increased focus on energy issues.
“We hope this new momentum will reinforce policy in favour of a better functioning market and a positive investment climate for companies, as well as contribute to achieving a secure and affordable energy mix for a low-carbon economy,” the statement said.
The statement further elaborated on what the 4 organisations believe are the three interlocking approaches which should make up the focus on a European energy policy.
- Design a cost-efficient, market-based transition to a sustainable low-carbon energy mix
This through coordinated efforts to reduce GHG emissions, achieve renewable and energy efficiency targets and focus on efficient cross-border connections and stable supply. Regulatory frameworks need to be developed to drive investor confidence and encourage technological development, particularly at distribution level ‘where most renewable energy sources need to be integrated.’ However, rigorous cost-benefit analysis need to be adhered to, so as not to lead to increased financial burdens for European citizens.
- Implement and improve market mechanisms to deliver security of supply
Drive the development of an interconnected European market with sound governance and system adequacy. In order for this to happen, a holistic market needs to be designed which optimises indigenous and sustainable energy resources and opportunities. The focus on security of supply must not be forgotten while ‘avoiding undue market interventions and distortions.’
- Deliver a competitive energy system that benefits customers
Putting customer needs for sustainable, affordable and secure energy at the centre of policy-making, and creating a level playing field for all market participants is vital. This to be driven through regulation that promotes innovative products and services.