Tuesday, March 19th, 2019

EU power liberalization jars with green targets: study

Wind turbines are pictured near the town of EmdenBy Geert De Clercq PARIS (Reuters) – Europe's attempt to combine an ambitious climate policy with the liberalization of electricity markets has largely failed, and the continent needs to rethink its subsidies for renewable energy, a French government study said. The study, based on reports by leading European energy academics, said Europe must decide on the trade-offs between affordability, sustainability and security on setting its energy policy. In December 2008, EU leaders approved the climate change package with three targets for 2020: cut greenhouse gas emissions by 20 percent, produce 20 percent of EU energy from renewable resources and improve energy efficiency by 20 percent. The climate package conflicted with the EU policy, in place since the mid-1990s, of trying to lower electricity prices by opening up power markets to competition, the report found.

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