Internal Energy Market is the exit strategy from the crisis

“Energy makes energy. I am convinced that the Internal Energy Market will boost our economy’s energy. We should make it our exit strategy from the crisis before it is too late. Energy prices in Europe are high and keep rising, whereas in the US or China they are falling. Europe is losing its competitive edge and the ones footing the bill are the consumer and businesses. The remedy is the Internal Energy Market. It is a precondition for EU competitiveness, and thus for growth, for the creation of new jobs, and for an increase of the welfare of EU citizens”, said Jerzy Buzek MEP, former President of the European Parliament, opening the EPP Group Hearing on the European Internal Energy Market.

The Energy Committee in the European Parliament will vote on a Report by Jerzy Buzek on 20 June calling for the swift completion of the Internal Energy Market. “The good news is that its creation does not require new legislation. It is all there. What we need is an immediate implementation of the existing law by Member States”, he said.

During the Hearing, Jerzy Buzek MEP pointed out the key actions he is calling for in his Report. “Let us be clear: there will be no IEM unless we ensure full EU-wide system connectivity! We must make sure that no region or Member State is isolated from the rest of the European network. Secondly, we should stop using the outdated oil indexation of gas pricing when fixing contracts on the European market. Gas prices should be flexible. And thirdly, apart from lower energy prices, consumers should receive a "triple C" set of benefits: clarity of information, control and choice. Energy bills must become not only lower but also more transparent", said Buzek.

“We have to make sure that our energy is clean, affordable and accessible to all”, said Maria Da Graça Carvalho MEP. "We must seek to both develop existing technologies and foster new ones in such a way that we improve the supply of cheap, available energy whilst ensuring that such technology does not impact negatively on the environment", she added.

“Energy is the basis of economy and its price creates an important part of our own wellbeing. We cannot base our energy policy on rising subsidies and energy prices, but on a functioning energy market where the price of clean energy cannot always go up. This must be our guideline when deciding on policy”, said Eija-Riitta Korhola MEP.

The key speaker during the hearing was the European Commissioner for Energy, Günther Oettinger.