TheCompensators* » Eight European energy giants call for reform of the ETS

Eight European energy giants call for reform of the ETS

On May 22, eight large European energy companies made an appeal, in order to call to the attention of major politicians, the current challenges of the energy market. The signatories of the appeal comprised the CEO’s of Enel, Eni, Eon, GasTerra, GasNatural Fenosa, GDF Suez, Ibedrola and RWE.

All CEO’s agreed that the future energy market should coordinate all European nations to meet climate policy targets. These targets, conclude the signatories, should be realistic and follow a stable reduction targets for the year 2020 and beyond.

Concerning the proposed measures, such as the backloading policy, the CEO’s proved skeptical, as in their opinion, accepting the proposal would not change anything in the structural level. However, all eight CEOs embraced long-term solutions that would reassure emission reductions throughout the years.

Peter Terium, CEO of RWE underlined the importance that European countries should work together instead of individually and share common goals. “Measures, or action taken by individual countries – whether regarding capacity mechanisms or expansion targets for renewables – are of no use to us; we must find European solutions.”

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