We’re still far too dependent - EU energy unity proposed

IN a world that seems increasingly volatile, it is reassuring that the EU has decided to try to reduce its dependence on Russian energy.

Maros Sefcovic, a vice-president of the European Commission in charge of energy policy, yesterday announced that the EU will establish a single European market in energy supplies, purchases, and consumption in a bid to end the Kremlin’s stranglehold on Europe’s gas supplies.

This project is especially important for Ireland as we, despite many promises to reduce the ratio, still import around 90% of our energy needs. This is one of the highest dependency rates in Europe and it leaves us particularly vulnerable to political and market instability. Two years ago, we spent €6.7bn importing energy.

The EU plan would also, it is promised, give more power to Brussels in their relationship with national energy regulators and give consumers greater choice in electricity services. The 19-page draft blueprint forcefully suggests that Europe adopt a unified position on energy issues but the proposal has met fierce resistance from some national governments. This plan, at first glance, seems entirely laudable and appropriate but it would be a mistake if our own efforts to reduce our dependence on energy imports were curtailed in the hope that the EU solution will serve a small, relatively weak island nation as well as we might wish.