The energy union package, announced today, lays out ways to create an energy union to strengthen European energy policy ahead of a global climate agreement to be reached in December.
Measures include more transparency when buying energy or gas from outside the European Union; a more interconnected, renewable and responsive electricity market; stronger focus on energy efficiency; and the development of next-generation renewables technology to help switch to a low-carbon economy.
Energy union vice president Maroš Šefčovič said today’s project will “integrate our 28 European energy markets into one energy union, make Europe less energy dependent and give the predictability that investors so badly need to create jobs and growth”.
Trade association, Ocean Energy Europe, underlined the importance of “continued support” from the European Union in the development of next-generation renewable energy technologies.
The group’s chief executive Rémi Gruet said: “Clearly ocean energy technologies tick all of the energy union boxes and will be of strategic importance for creating a long-lasting and meaningful Energy Union.”
The Confederation of British Industry (CBI) hailed the Commission’s goals as “ambitious but achievable” and emphasised that the right policies must be put in place.
CBI business environment director Rhian Kelly said: “Greater interconnection will be key to getting the energy union to work, allowing power to flow across the EU and enabling a more efficient and cost-effective market.”
According to EU figures, 75 per cent of housing stock is energy inefficient; and 94 per cent of transport relies on oil, of which 90 per cent is imported.
By 2030, the EU aims to improve energy efficiency by at least 27 per cent, cut greenhouse gas emissions by at least 40 per cent, and boost renewable energy by at least 27 per cent.