European Utilities Criticise Multiple Targets in the EC's 2030 Guidelines

The European energy package published on Wednesday triggered mixed reactions among industry players. Most of them praised European Commission for the attempt to overhaul the European carbon market, but some companies pointed out alleged flaws in the guidelines.

The Magritte Group of CEOs believe a single binding target on CO2 remains central to ensure efficient energy markets. They suggested that the guidelines published by the European Commission could create distortions for the market.

‘While a document of this dimension and importance for the future of Europe’s economy requires full and considered study, an initial conclusion of the Magritte Group of CEOs is that the setting of multiple targets does not support a technology neutral approach, nor does it allow a cost efficient competition between low carbon technologies,’ reads a note released by GDF Suez on Thursday.

The Magritte Group of CEOs is comprised by the bosses of 12 utilities. They represent half of Europe’s power-generating capacity. 

On the other hand, they wrote that the package published on Wednesday shows some positive signals. Apart from the focus on the carbon market, they appreciated the EC’s attempt to promote an integration of mature renewable energy sources.