Energy Union combines vision and ambition

During a joint press conference led by EU Commissioner for Energy Union, MarošŠefčovič, and EU Commissioner for Climate Action and Energy, Miguel Arias Cañete, the most ambitious plan addressing Europe’s energy needs and priorities, was presented. The Energy Union package highlights some of the most pressing challenges in the field of energy and some of the strategic opportunities that we, as Europeans, should tap on in order to improve our quality of life, boost Europe’s innovation and pave the way for an even more eco-friendly economy.

According to the latest data, the EU is one of the largest energy importers in the world, importing 53% of its energy at a cost of around 400 billion EUR. 94% of transport relies on oil and 90% of it is imported. This dependency to suppliers outside the EU, shaped by geopolitics and an ageing infrastructure for intelligent energy grids that requires over 1 trillion EUR of investment, make the case for an ambitious energy action plan. It all boils down to taking the right decisions and coordinating our efforts in order to minimise costs and use resources in an optimal manner. Energy Union is based on five principles: i) energy security, solidarity and trust; ii) a fully integrated European energy market; iii) energy efficiency to meet growing demand; iv) decarbonisnig the economy and v) research, innovation and competitiveness.

In order to develop a more secure and self-sufficient European energy market, one of the preconditions is diversification of energy sources. Basically, we must not place all eggs in the same energy basket. Instead, we ought to use good judgement and vision to invest in new sources such as liquefied natural gas. In strong collaboration with other member states, we ought to develop a feeling of greater solidarity and be ready to help out in case of a supply disruption.  In parallel, the EU should reach out to other countries or regions to sign energy partnerships.  A fully integrated energy market is another of the objectives set by the package, aiming to stimulate investment in the energy sector, through major infrastructure projects and investment funds. An ambitious target of interconnecting 10% of the electricity produced in the EU is to be achieved by 2020 and by 2030 it is expected to climb to 15%.  Energy efficiency is another key pillar of the plan, raising the benchmark to at least 27% for improving energy efficiency by 2030, with a review in 2020 that may help us reach 30% efficiency. Decarbonising our society has also been a thorny issue for our energy market and this time an objective of cutting down our domestic emissions by at least 40%, compared to 1990 rates, has been set for 2030. Renewable energy is also expected to play a more prominent role by generating 27% of the energy that will be consumed in 2030. Last but not least, innovation and research are essential to covert the EU into a hub of new ideas. ITER is highlighted as the international project where Europe’s contribution will generate spin-offs and maintain Europe’s leadership in nuclear technology.

To read more about the Energy Union click here