EU energy and climate goals for 2030
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.
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
- Communication “A policy framework for climate and energy in the period from 2020 to 2030” [COM(2014) 15] [173 KB]
- Summary of the impact assessment on energy and climate policy up to 2030 [113 KB]
- Impact assessment on energy and climate policy up to 2030 [2 MB]
- Communication on energy prices and costs in Europe [353 KB]
- Full report on energy prices and costs [5 MB]
- Energy Economic Report
- Guidance to Member States on state intervention in electricity markets
- Climate aspects of the 2030 framework
- Shale gas
- EU Energy, transport and GHG emissions trends to 2050