The Commission this week sent formal warnings to 17 of the 25 member states for failure to implement, either in practice or principle, directives designed to liberalise the EU’s gas and electricity markets. EEF has consistently argued that the failure of European markets to operate in a fair and transparent manner has been a major factor in the escalating price of energy which has resulted in British industry paying the highest gas and electricity prices in Europe.
Commenting on the announcement, EEF Director General, Martin Temple, said:
"Whilst some may argue this is a case of better late than never, the Commission is to be applauded for backing its recent words with firm action against those who have been profiting from the current distorted environment.
“Business will welcome the urgent attention the Commission is now giving to help secure a sustainable and secure long term supply of energy which is a fundamental part of European competitiveness. The Commission must now follow these actions up by making its most immediate priority the genuine opening up of Europe's energy markets.”
EEF published its own long term energy strategy in autumn 2005 setting out a series of measures the UK and Europe should adopt to secure a long term, secure sustainable supply of energy. The report is available here. Further details of the Commission’s action can be found here.