EU Commission focuses on efficiency in new energy package

The measures cover energy efficiency, renewable energy, the design of the electricity market, security of electricity supply and governance rules for the Energy Union.
They have three main goals: putting energy efficiency first, achieving global leadership in renewable energies and providing a fair deal for consumers, it said.

“Consumers are active and central players on the energy markets of the future” it said, adding “consumers across the EU will in the future have a better choice of supply, access to reliable energy price comparison tools and the possibility to produce and sell their own electricity.”
“Increased transparency and better regulation give more opportunities for civil society to become more involved in the energy system and respond to price signals" it added.

The package also includes actions to accelerate clean energy innovation and to renovate Europe's buildings. It provides measures to encourage public and private investment, promote EU industrial competitiveness and mitigate the societal impact of the clean energy transition.

Moreover, “we also exploring ways in which the EU can show further leadership in clean energy technology and services to help third countries achieve their policy goals” the EU Commission said. “Clean energy transition is the growth sector of the future, that's where the smart money is” it stressed, adding clean energies in 2015 attracted global investment of over Eur300 billion. 

The EU is “well placed to use our research, development and innovation policies to turn this transition into a concrete industrial opportunity” the EU Commission said. The package looks to mobilise up to Eur177 billion of public and private investment per year from 2021, leading to up to 1% increase in GDP over the next decade and create 900,000 new jobs.

“Having led the global climate action in recent years, Europe is now showing example by creating the conditions for sustainable jobs, growth and investment” the vice-president for Energy Union Maros Sefcovic said.

"Our proposals provide a strong market pull for new technologies, set the right conditions for investors, empower consumers, make energy markets work better and help us meet our climate targets” said commissioner for climate action and energy Miguel Arias Canete.
“ I'm particularly proud of the binding 30% energy efficiency target, as it will reduce our dependency on energy imports, create jobs and cut more emissions” he said, adding that “Europe is on the brink of a clean energy revolution. And just as we did in Paris, we can only get this right if we work together.”

This new package follows the agreement in October 2014 by the European Council on the 2030 climate and energy policy framework for the EU setting an economy-wide domestic target of at least 40% greenhouse gas emission reduction for 2030.
As part of that, in 2015, it presented a proposal to reform the EU Emission Trading System (ETS) “to ensure the energy sector and energy intensive industries deliver the emissions reductions needed." In summer 2016, the Commission brought forward proposals for accelerating the low-carbon transition in the other key sectors of the European economy.