Bloomberg: EU Seeks Faster Energy Market Integration Amid Crisis

The European Union is seeking to speed up the creation of a common energy market to help its shift to a low-carbon economy and boost security of energy supplies amid a natural-gas dispute between Russia and Ukraine.

Energy and environment ministers from the EU’s 28 member states are meeting in Milan today to help build a compromise before a summit on Oct. 23-24 where the bloc’s leaders are expected to decide on policies for 2030. The challenge for governments is to reconcile the need for cheaper and safer energy while accelerating the pace of emissions reductions.

“The completion of an integrated internal energy market will increase solidarity among member states, ensure safety of energy supplies and support integration of local renewable energy sources with a view to achieving energy self-sufficiency,” Italy, which currently holds the EU’s rotating presidency, said on its website.  MORE