| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 634 final (13.10.14) |
| Publication Date | 13/10/2014 |
| Content Type | Policy-making, Report |
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Over the last two decades Europe's energy policy has consistently been geared towards achieving three main objectives: energy in the European Union should be affordable and competitively priced, environmentally sustainable and secure for everybody. A well-integrated internal energy market is a fundamental pre-requisite to achieve these objectives in a cost-effective way. In November 2012 the Commission reported exhaustively on the state of the internal energy market, taking stock of what had been achieved and looking forward by identifying three main challenges to focus future work on. The challenges and associated actions related firstly to the need to implement, apply and act in accordance with existing legislation, secondly to the need to make our energy systems fit for a low-carbon future and thirdly to put the consumer centre stage as a key enabler of the necessary transition and also as the ultimate beneficiary of liberalisation efforts. It is now time to take stock of the progress made towards meeting these challenges and to identify remaining gaps in this endeavour. In January 2014, the Commission published a Report on 'Energy prices and costs in Europe' which established that wholesale prices for electricity have dropped significantly in the EU and that wholesale gas prices have remained roughly stable since 2008. However, retail energy prices in Europe rose significantly between 2008 and 2012 inter alia as a result of increasing energy taxes and levies which represent a significant part of the retail energy bills. They diverge moreover substantially between Member States, showing the importance of thorough assessment of their interventions and highlighting the potential and the need for more policy co-ordination. The need for policy co-ordination at an early stage has also been a guiding reason for the Commission to propose in January this year a new climate and energy policy framework until 2030. A competitive and integrated internal energy market is an important component of that framework as it will provide the necessary environment for the achievement of ambitious future energy and climate policy objectives in a cost-efficient manner and thereby help to ensure that energy prices for business and households are not distorted and that necessary investor confidence is retained. This Communication underlines that the EU is moving in the right direction. But whilst we are well underway, it is also clear that the work is not done yet and that clear gaps exist that form obstacles for the market to function smoothly. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:634:FIN |
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| Subject Categories | Energy |
| Countries / Regions | Europe |
