TheEnergyUnion- based on five mutually supportive dimensions – energy security, solidarity and trust; the internal energy market; energy efficiency as a contribution to the moderation of energy demand; decarbonisation of the economy; and research, innovation and competitiveness – is intended to address these challenges.
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What is the Energy Union and why is it important?
Creating an entirely functional energy union helps boost the EU鈥檚 economy, its energy security and its commitment to fighting climate change, while delivering increased choice and lower prices for EU consumers and businesses . The EU is committed to spearheading the global fight against climate change.
What does the Energy Union mean for Europe?
The European Commission’s Energy Union package aims to complete the single energy market while reforming the production, transport and consumption of energy in Europe. EU leaders asked the European Commission to issue a proposal for an European Energy Union to connect networks across borders, improve Europe’s energy security and cut its emissions.
What are the five dimensions of the Energy Union?
To reach these objectives, the Energy Union focuses on five mutually supportive dimensions: 1) energy security; 2) the internal energy market; 3) energy efficiency; 4) decarbonisation of the economy; and 5) research, innovation and competitiveness. Energy efficiency has a role to play in all five dimensions.
When will the Energy Union be implemented?
The European Council called for the Energy Union to be completed and implemented by 2018. The Council agreed a general approach on a draft decision to establish a mechanism for information exchange about international energy agreements between member states and non-EU countries.