The union of the European electricity industry, Eurelectric, which represents the power sector of the 25 EU countries and several applicant countries, has unveiled its Oslo Declaration setting out current key priorities for energy policy in the light of the three major challenges: security of supply, market development and climate change.

Rafael Miranda, CEO of Endesa and president of Eurelectric, told the trade group’s annual conference in Oslo that, electricity offers a unique solution to drastically reduce oil dependency, cut down on CO2 emissions and boost energy efficiency.

However, Mr Miranda added that if electricity is to play its proper role and deliver all its potential benefits to society, then a fully coherent EU energy policy based on properly-functioning markets is required.

Mr Miranda pointed to the work urgently needed to integrate electricity markets towards a fully-fledged pan-European market. This requires electricity stakeholders to join forces and show leadership in furthering regional markets, underlining that the regional market initiatives currently under way offer a unique opportunity to make rapid progress and must become a success story.

The group’s Oslo Declaration welcomes the current debate over European energy policy fostered by the launch of the European Commission’s green paper.

The European electricity industry stresses the need for a long-term vision on energy policy. It should focus on where it can add most value and should provide the stability and regulatory coherence necessary to allow the market to function properly and deliver continued investment in vital plant and infrastructure. It is also vital that important primary energy or technology options are not limited through political decisions, argues Eurelectric.

In the context of climate-change action – which requires a global response – policymakers should make available the widest range of tools possible in order to achieve reductions in greenhouse gas emissions, underlined Mr Miranda.