Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-17-Speech-2-301"
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"en.20080617.38.2-301"2
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"Madam President, Commissioner, the most certain end result of the liberalisation and harmonisation of the European Union’s energy markets is a hike in the price of electricity. That will be because of electricity’s pricing mechanism, as Mr Turmes showed.
The market price is determined in the wholesale power exchanges. There the price of all electric power is determined by the most expensive production cost of the most expensive product. When the most expensive form of energy is coal-based, the exchange is a profit machine for the producers of hydroelectric and atomic energy. The same companies will also gain from the EU’s emissions trading system. Emissions rights at the exchanges will also be added to the price of the electricity for whose production they are not needed.
We need to learn a lesson from the experiences of the United States of America. The NGO known as Public Citizen has estimated that in the 14 states in which the price of electricity is not regulated it is 52% higher than in the 36 states where it is. The problem with the electricity pricing mechanism has been ignored in Mrs Morgan’s report."@en1
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