Member states of the European Union will now be equipped to govern the Energy Union, a common project aimed at ensuring that all Europeans have access to secure, affordable and climate-friendly energy, the European Commission announced Wednesday.
The regulation will ensure that the objectives of the Energy Union, especially the EU's 2030 energy and climate targets – reduction of 40 percent of greenhouse gas emissions, a minimum of 32 percent renewables in the EU energy mix and the 32.5 percent goal of energy efficiency savings - are achieved by setting out a political process defining how EU countries and the Commission work together, and how individual countries should cooperate, for achieving the Energy Union's goals, a press release from the Commission said.
This new governance system will enable the bloc to realize its goals of becoming world leader in renewables, putting energy efficiency first, provide a fair deal for consumers and set the course for the EU's strategy for long-term greenhouse gas reduction, according to the statement.
It calls for each member state to prepare a national energy and climate plan for the period 2021 to 2030, covering all the five dimensions of the Energy Union and taking into account the longer-term perspective. These national plans would be comparable throughout the EU.
Assessments of the draft plans, and recommendations by the Commission, will result in final plans that ensure that the 2030 climate and energy targets will be reached in a coherent, collaborative and least-cost way across the EU.
- Ambitious political agreement
The governance of the Energy Union will help enable the political process required to deliver a common energy policy for all EU member states, according to the Commission.
'An ambitious political agreement on the governance of the Energy Union was reached today between negotiators from the Commission, the European Parliament and the Council,' the press release said.
'By building trust and consensus between the Member States on energy and climate matters, the governance will set the best way to achieve the energy transition and the modernization of the EU economy and industry.'
Commission Vice-President for the Energy Union Maros Sefcovic said the governance deal would enhance transparency for the benefit of all actors and investors, in particular.
'It will simplify monitoring and reporting of obligations under the Energy Union, prioritizing quality over quantity. And it will help us deliver on promises in the field of energy, climate and beyond,' he added.
Sefcovic said he expected to receive the member states' draft energy and climate plans by the end of 2018, saying the plans would 'send a strong signal to investors who need clarity and predictability'.
By Muhsin Baris Tiryakioglu
Anadolu Agency
energy@aa.com.tr