European Council calls for much faster progress towards single market

8 February 2011


The European Commission and EU Member States must work harder to meet the bloc's goals on energy security and sustainability, says the European Council.

Meeting in Brussels in early February, the Council called for work on the creation of an internal energy market to be speeded up, and for work on targets relating to renewable energy and energy efficiency to be strengthened.

Such goals are essential to the long-term security, sustainability and competitiveness of Europe's energy supplies, said the Council, as well as to sustainable economic growth and job creation.

The two-day meeting was the first-ever EU summit devoted to energy and innovation matters.

In its conclusions from the meeting, the Council called for the completion of the internal energy market by 2014 and said that investment in energy efficiency and renewable energy would also help to boost energy security.

“No EU Member State should remain isolated from the European gas and electricity networks after 2015 or see its energy security jeopardized by lack of the appropriate connections,” said the Council in a statement. It wants regulators and transmission system operators across the region to “step up” work on market coupling and network codes so that electricity and gas can flow freely across borders.

To achieve the single market, the Council said that “major efforts” are needed to expand cross-border infrastructure and improve authorization procedures. These, however, will have to be financed by the market, with costs covered through tariffs.

“Particular attention should be given to the setting of tariffs in a transparent and non-discriminatory manner at levels consistent with financing needs and to the appropriate cost allocation for cross-border investments,” said the Council.

Security of supply could also be enhanced through the exploitation of unconventional gas and oil reserves and the potential for this should be assessed, according to the Council.

The Council said that Europe's 2020 energy efficiency goals “must be delivered” and called on the European Commission to strengthen work with Member States on the implementation of the Renewable Energy Directive.

The EU currently relies on imports for over half of its energy needs and this growing dependency has put its relation with external partners under the spotlight. The Council believes that better coordination of EU Member States' treaties and ties with third party energy producer and transit countries would benefit the region as a whole.

It has invited Member States to inform the Commission of all their existing and new bilateral energy agreements with third party countries.




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