Commission lays down plans for a single energy market by 2005
The European Commission has proposed a new set of initiatives to open up the gas and electricity markets fully by 2005 for the benefit of European consumers. These measures include bringing forward the schedule, reinforcing the conditions which encourage real and fair competition, and introducing a genuine single market,' says the Commission. The measures aim to create an integrated energy market in the EU, to avoid energy crises similar to those recently experience by California, which, according to the Commission, are attributable to an inadequate legal framework and inadequate production capacity. 'Based on clear rules and effective regulation, this single energy market needs to take full account of key requirements of security of supply, quality, consumer protection and the environment,' commented Energy and transport Commissioner Loyola de Palacio, The Commission proposals aim to achieve full opening-up of the gas and electricity market for all consumers throughout the Union, providing the best guarantees to Europeans. The Commission will now send the proposal to the European Parliament and Council and to the Heads of state at the forthcoming European Council in Stockholm on 23 and 24 March. 'These new proposals constitute a decisive step towards providing the people of Europe with the most advanced and integrated electricity and gas system, offering the best guarantees of security of supply and consumer protection. They will bring real benefits in terms of competition, prices and competitiveness,' commented Commissioner Palacio.