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“The time of cheap energy is over. In addition there are increasing concerns over the ability to match global supply and demand. The world is entering into a new energy era which requires a global response.”
– Andris Piebalgs With 460 million citizens, the EU is one of the largest energy markets in the world. The EU is rapidly moving towards an integrated market, governed by common principles, objectives and product standards. The EU also coordinates certain common activities, such as promoting energy research under its Research and Technological Development policy and supporting the establishment of Trans-European Energy Networks. Focus of EU Energy Policy The EU's current emphasis is: security of energy supply, focusing on ways to reduce demand while ensuring diversification of producer and transit routes for the supply of those energy sources that need to be imported; promoting the development and use of alternative sources of energy; increasing the efficient use of energy. This implies an ambitious move toward energy production that includes wind and biomass, hydro-generated and solar power and biofuels from organic matter. The next step would be to become a hydrogen economy: a European Hydrogen and Fuel Cell Technology Platform project is drafting a blueprint for such a transition. Additionally, the EU is de-regulating the electricity and gas sectors through legislation that has already opened up the markets to all business consumers, with this benefit extended to all consumers as of mid-2007. EU-US Cooperation The European Union and the US share a long tradition of working together to improve energy security. EU-US cooperation is pursued through multilateral mechanisms such as the International Energy Agency and the G8, as well as through bilateral dialogue. At a moment of increasing global energy uncertainty, EU-US cooperation on energy security is more important than ever. European Commission President José Manuel Barroso acknowledged that reality early in 2006 with a call for a Strategic Energy Dialogue between Washington and Brussels. This principle was elaborated at the annual EU-US Summit in Vienna on June 21, 2006, where both parties agreed on reinforcing EU-US strategic cooperation on energy and set the scope for joint action. It was also agreed to promote responsible energy policies worldwide. This cooperation will contribute to increased regional stability, greater security of supply and, finally, new business opportunities to our mutual advantage. European Commission Delegation, Washington, DC, Staff
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| Last Updated ( Tuesday, 05 May 2009 ) |