UK energy minister Malcolm Wicks has called for the formation of a common energy policy for the European Union, and highlighted the need for member states to resist economic nationalism in the energy sector.
Mr Wicks’ comments came while he was speaking to a Brussels think tank after a new report ranked the UK’s energy markets the most competitive in the EU and G7. The report, by Oxford Economic Research Associates, highlights that the UK is performing exceptionally well in terms of its degree of energy markets liberalization, and has the highest level of competitiveness, scoring 9.2 out of 10.
Britain has led the way in opening up its energy market and in encouraging other members to do likewise, said Mr Wicks. Moving forward to meet the formidable challenges of increasing European competitiveness, securing our supply and fighting climate change, it is essential that a common European energy policy is developed.
He also said that the European Commission’s strategic energy review next year will closely consider issues such as the problems single markets can create and the need to reduce emissions.