February 9, 2011—Twenty European companies and associations are calling on EU Heads of State to show the courage and vision to create a single market for electricity by 2015.
The announcement came just a few days before the 25th anniversary of the signing of the Single European Act on February 17, 1986. But 25 years after the signing of the Single European Act, there is still no single market in electricity.
European legislation has guaranteed some choice of electricity provider, but only 5 percent of Europe’s electricity is traded across borders. As a consequence, the groups say, competition is inefficient and allows electricity suppliers to pass any increase in the price of the coal, gas–or in the future carbon–straight onto the consumer without risk of significant loss of business.
In order to achieve a single market in electricity, Europe needs both the infrastructure to transport electricity from one part of Europe to another, and a common set of market rules, according to the declaration.
For more information, see the declaration.
