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December 2018
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Wednesday, 14 November 2018 13:00

Europe is aiming very high, Maroš Šefčovič

Europe is aiming very high, Maroš Šefčovič

 “The future of Europe's internal energy market was indeed one of the five pillars of the Energy Union when we presented it back in 2015. There are many ways of addressing this question, but I'd like to touch upon one of the most complex and profound transformational legislations we presented during this mandate: the Clean Energy Package. This package reshapes our entire electricity market from a system of nationally centralised, fossil-based energy into one decentralised across borders and sectors, and based on renewables. Of course this can only be done if we ensure a well-functioning, fully integrated electricity market”, Vice-President Maroš Šefčovič, in charge of Energy Union, said at the Euractiv conference on the future of the European Internal Energy Market, in Berlin, 13 November 2018.

“We have definitely seen progress in the integration of the national energy markets over the last years”, Maroš Šefčovič added, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the European Commission.

According to Vice-President Šefčovič, nevertheless, much less than 50% of the interconnector capacity in the EU is currently made available to the market. So, there is considerable room for improvement.

“While the negotiations on some parts of this package are not easy, I am optimistic that we will conclude the trilogues by the end of this year. Meanwhile, I am very reassured by the political agreement to increase the energy efficiency and renewable targets (to 32.5% and 32% respectively). As for GhG emissions, we are still highly committed by our 40% target by 2030 as we presented as we presented ahead of the Paris Agreement”, Maroš Šefčovič said.

“Now the good news is that with the Clean Energy Package we are expecting to overachieve and reduce our emissions by up to 45%. The bad news is while Europe is aiming very high, we now know that the aggregated national commitments (NDC) of the Parties to the Paris Agreement are still not enough for limiting global warming to 1.5 degrees. This is a huge challenge which requires us in Europe to think further ahead, well beyond 2030”, he said.

More details: http://europa.eu/rapid/press-release_SPEECH-18-6410_en.htm

Person in charge of the newsline: Olga Nagiyeva 

 

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