BRUSSELS, March 19 (UPI) -- Energy companies making up the so-called Magritte Group said Wednesday leaders from the European Union need to strengthen the vitality of the energy sector.
Heads of state from European countries gather Thursday in Brussels to discuss future energy policies. The Magritte Group, a consortium of chief executives from leading energy companies, said they were alarmed by what they said was the "critical state" of the energy market in the European Union.
Magritte Group leaders said a "harmonized" European energy policy that emphasizes interconnectivity, increased competition and more access to clean and reliable sources of energy is necessary for the future.
"It is vital that European leaders reach agreement on the framework for a new energy policy for the period 2020-2030, in order to avoid the real risks facing the sector at present of rising energy costs, loss of competitiveness and possible shortages," they said in their statement.
EU leaders are set to discuss an energy package that sets benchmarks for 2030. Existing targets for 2020 mandate a 20 percent reduction in emissions and a 20 percent share of renewable resources in the European energy mix.
