EU energy and climate goals for 2030

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by Tim Willmott : Be the first to leave a comment

On 22 January 2014 the Commission proposed energy and climate objectives to be met by 2030. The objectives send a strong signal to the market, encouraging private investment in new pipelines and electricity networks or low-carbon technologies.

The targets must be met if the EU is to keep its promise to cut its greenhouse gas emissions by 80-95% by 2050.

What are the objectives?

  • 40% cut in greenhouse gas emissions (compared to 1990 levels)
  • To achieve at least a 27% share of renewable energy consumption
  • Energy efficiency to play a vital role, but no specific target at this point.

Why more objectives?

The EU already has a comprehensive set of energy and climate policies for the period up to 2020. But forecasts looking forward to 2050 suggest that current policies are not sufficient to bring about a sustainable, secure and competitive low-carbon economy and energy system.

Price study

This study into energy prices and costs will:

  • help explain context to recent price rises and their impact on energy consumers
  • ensure that policy decisions are based on thorough evidence-based economic analyses
  • provide an insight into international price developments

How have prices in the EU developed?

From 2008 to 2012 Europe has seen a significant rise in average retail prices for households and industry.

Yet over the same period, wholesale electricity prices fell by one-third and wholesale gas prices remained the same.

The study shows energy prices will keep rising in the short term – mainly due to rising fossil fuel prices and the need for investment in networks and new power generation.

  • Household electricity prices have risen by 4% a year, household gas prices by 3% a year – above inflation for most EU countries
  • Retail electricity prices for industrial customers have risen by 3.5% a year – but industry retail gas prices have risen by less than 1% a year, below inflation for most EU countries
  • Wholesale electricity prices fell by 35-45% over the period
  • Wholesale gas prices, despite fluctuations over the five year period, have remained the same.

Documents for download

More information

 

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