Recent EC proposals fail to explain how alternative energy technologies such as fracking, a deeper energy trade relationship with Europe’s biggest trading partner – the United States – and a freer internal energy market can boost the Union’s energy security strategy.
The achievement of efficient and secure energy supply and a clean environment do not have to be conflicting objectives. However, meeting both goals will require meaningful market-oriented reform of energy policy at the EU level.
The Energy Union can further the process of opening up and integrating energy markets within the European Union. However, there is a risk that behind the proposal a new wave of regulation looms, both at national and EU levels.
The success of the internal market for products can and should be repeated for energy. Natural barriers to market entry in terms of infrastructure can be overcome by private and/ or public investment if proper returns on investment are allowed.