On 25 February, the European Commission published the long-awaited package on the Energy Union. Indeed, after the new European Commission took over on 1 November 2014 and with not one but two EU Commissioners in charge of the EU energy and climate policy- the questions of “who does what?” as well as what exactly the “Energy Union” means were far from being clear.
The Energy Union Package sets the vision for the future and integrates a series of policy into one cohesive strategy. It is based on three long-established objectives of the EU policy: security of supply, sustainability and competitiveness. To reach these objectives, the Energy Union focuses 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 the Energy Union a new European entity? Definitely not. It is more a “rebranding” of the EU energy policy, with an ambitious work plan for the upcoming years. The Commission foresees a number of legislative proposals which would help achievie these five strategic goals. The most eye-catching ones refer to the proposal for a new electricity market design and the review of the EU regulatory framework. Energy UK will follow all of the developments on the Energy Union closely and watch carefully how the Energy Union becomes a reality.