Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-11-13-Speech-1-043"
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"en.20061113.15.1-043"2
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"Mr President, an unprecedented power cut hit Western Europe on the night of 4/5 November. It revealed the fragility of the European energy system and the inadequate capacity for producing and transporting electricity, the result of a poor investment policy.
Despite the risk of blackouts, for the last six years European operators have been reducing the level of their investments, which has fallen from 16% to 10% of their turnover. At the same time, electricity consumption has continued to rise by 1.8% per year. This fall in investments is the direct consequence of liberalising the energy market. Rather than investing in the development of new production capacity, operators are concentrating their efforts on profits and on buying out their competitors.
On the one hand, the public has seen electricity prices soar while, on the other hand, security has decreased. Only a European energy policy could guarantee successful cooperation between Member States and the implementation of necessary investments to the tune of EUR 700 billion between now and 2030.
Electricity is a public good: this should be reflected in the European Union’s political initiatives."@en1
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