Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-17-Speech-2-299"
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"en.20080617.38.2-299"2
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"Madam President, this market is not a market, but a hold-up: one costing EU consumers something like EUR 70 billion a year in undue windfall profits going to 10 or 12 big energy oligopolies in Europe. I can fully understand that these companies want to keep this going. How do they keep those undue windfall profits? First, you prevent ownership unbundling. I am sorry, but France and Germany are not small peripheral EU Member States. If they do not unbundle, we will never have a really integrated grid and we will never solve the conflict between producing electricity, trading it and facilitating competition through your grid.
The second issue – and that is what is happening now – is that they are trying to escape regulation both from the regulatory authorities and from the cartel authorities. Therefore they want to create regional markets. However, if we do not have a strong EU agency, these regional markets will be a regulatory no-man’s-land: E.ON, RWE and EDF are too big for a regional market – France, Germany and the Benelux countries. Therefore, without a strong EU agency and a better interface between regulatory agencies and cartel authorities, this EUR 70 billion hold-up will continue."@en1
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