Towards a Single Energy Market
Edited by Jean-Michel Glachant and François Lévêque
Chapter 10: Long-Term Scenarios for the Strategic Energy Policy of the EU
Pantelis Capros and Leonidas Mantzos1 INTRODUCTION Formally the European Union Member States have no legal obligation to pursue a common energy policy and strategy. Each country may have diﬀerent priorities and strategic choices. However, over the past ten years, two major policy developments, namely the climate change challenge and the establishment of a single internal energy market, have brought attention to the need for policy coordination and a common energy strategy in the European Union. These two policy domains are EU-wide by nature, and have implications for the whole of the EU and its economic growth. Addressing these issues is neither eﬃcient, nor possible, at the level of a single country. This claim has been ﬁrst reﬂected in the Green Paper on security of energy supply, published by the European Commission on 29 November, 2000, and has been further illustrated by the unprecedented policy-related debate and other policy reports that this document raised since its publication. The Green Paper and the related debate have shown that in the context of climate change constraints and the single internal market it is imperative to develop a common European strategic view on security of energy supply. This concept encapsulates both the delivery of aﬀordable and suﬃcient energy by the competitive energy markets and the long-term choice of energy demand and supply options that ensure sustainability, competitiveness and security. The analysis has clearly shown that reducing carbon emissions from energy combustion implies higher operating and capital costs over a...
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