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.
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.