In order to instill competition and boost investment in the energy sector, the European Commission will insist on keeping foreign companies out of the EU27 energy markets unless they are open to the idea of separating their supply and network businesses, The Associated Press has reported.
According to a draft proposal obtained by The Associated Press, the commission said: Far too many of the EU’s citizens and businesses lack a real choice of supplier.
The draft also said that billions of euros are required to upgrade Europe’s energy grid and that may force some vertically integrated energy companies to dispose some of their assets.
The draft also affirmed the importance of an independent energy agency to oversee national regulators.
Although countries like Britain, the Netherlands and Denmark are in support of the proposal for unbundling, France and Germany are the notable names not in favor of the proposal.