The joint energy policy for Europe has three main objectives: to increase security of supply, enhance competitiveness and combat global climate change.
At the Spring Summit held on 8-9 March 2007, the EU heads of state and government adopted a ground-breaking action plan entitled "
An Energy Policy for Europe".
This action plan sets out the course of a joint European energy strategy for the future. So far, the EU has not had a joint energy strategy.
The overall objectives of the action plan are to:
- combat global climate change as a consequence of greenhouse gas emissions
- secure the EU's energy supply
- strengthen competition on the EU internal market for energy.
To achieve these objectives the action plan indicates that the EU member states should work together to:
- commit themselves to reducing emissions of greenhouse gases harmful to the climate by 20 per cent by 2020
- reduce energy consumption by 20 per cent by 2020
- phase in 20 per cent renewable energy in the European energy mix by 2020
- promote energy technology innovations
- speak with one voice when dealing with non-EU countries supplying energy
- promote priority electricity and gas infrastructure projects
- establish a supervisory body for security of supply
- secure effective separation between commercial companies and control of the energy grids
- establish an agency for cooperation between national energy agencies with regard to cross-border trading of electricity and gas
- enhance the powers of the national energy agencies with regard to energy companies; and
- ensure that EU energy policy is better integrated in other policy areas, e.g. trade and agriculture.