Europe needs a functioning internal energy market

Europe’s energy situation was on the agenda at the meeting of EU leaders held in Brussels on 22 May 2013.

​Fortum is pleased that energy was one of the themes of the meeting and a topic of discussion among the European leaders. It is important that energy is discussed also from the perspective of competitiveness. A well-functioning internal energy market brings efficiency benefits and thereby competitiveness, and is a prerequisite also for the cost-effective achievement of renewable energy targets.

"Completing the internal market is an absolute priority and the best way to ensure the competitiveness of the European Union also in the future. This requires that each Member State fully implements internal market legislation. Member States should not implement national solutions, like capacity mechanisms, which negatively impact the functioning of the internal market," says Esa Hyvärinen, Vice President, Corporate Relations, Fortum.

It is especially important that the EU commits to climate change mitigation and emissions trading as its key steering mechanisms. In order for emissions trading to function as planned, prompt actions are needed to improve its steering impacts. In the first phase, these include the Commission’s suggested backloading, followed by the implementation of other structural reforms.