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EU energy leaders want better policies

Sept. 11, 2013 at 7:18 AM   |   Comments

BRUSSELS, Sept. 11 (UPI) -- Directors from some of Europe's leading energy companies told members of the European Parliament they were losing confidence over energy policies.

Gerard Mestrallet, the chief executive at French energy company GDF Suez, and Paolo Scaroni, the chief executive at Italy's Eni, appeared in Brussels to address energy policies in the European Union.

They appeared on behalf of major European energy companies who said uncertainty in the EU sector was hurting private investments.

"As a result, European industry can neither fulfill its potential as a source of growth and employment nor play a key role in establishing a dialogue with producing countries," they said Tuesday. "Energy security of supply is no longer guaranteed, CO2 emissions are currently on the rise, investments in the sector are not happening and energy bills are rising sharply."

The executives, in a readout of their addresses in Brussels, said they were answering a call made in May by the European Council. They said they wanted standardized rules in the EU and a program meant to finance energy infrastructure programs.

On existing power capacity, they said it was better to utilize existing capacity than to subsidize new construction.

"European consumers must be able to benefit from energy that is as respectful of the environment as possible and that supports the achievement of the other two EU objectives: competiveness and security of supply," they said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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