Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-06-09-Speech-2-473-000"
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"en.20150609.18.2-473-000"2
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"Madam President, there is almost no problem which cannot be made worse by regulatory intervention, and energy markets are a perfect example. We have hit them with emissions targets, an emissions trading scheme – including backloading and a market stability reserve – feed-in tariffs, renewable obligations certificates and, in my country – the UK – a carbon price floor. We have set aggressive targets for biofuels and then cut them, doing huge damage to investors.
Is it any wonder we are seeing investors shy away? Is it any wonder that nuclear, coal and gas power plants are being closed or mothballed? Do we not understand that intermittent renewables can never replace base—load generating capacity? In my country, where we used to have a comfortable spare capacity margin, we are now down to low-single-figure percentages in winter. Blackouts and power cuts are a real possibility.
The rapporteur is right to call for energy conservation measures and indigenous energy production, especially shale gas. But more than that, we need a stable regulatory environment to promote investment. We need to understand that we cannot continue to rely on expensive and intermittent renewables."@en1
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