"Energy market needs European solutions"
Eight energy companies make appeal to EU / Peter Terium: "Emissions trading to be strengthened and reformed quickly"(PresseBox) (Essen, )
Among other things, they demand that the future energy market design includes a capacity mechanism approach coordinated at European level, in which all assets contributing towards security of supply would be remunerated in a fair and appropriate manner. In addition, with respect to the reform of European emissions trading, the signatory CEOs agreed that realistic and stable reduction targets should be set for the period beyond 2020.
Peter Terium, CEO of RWE AG, added: "In recent months we have supported a structural reform of European emissions trading. This economic instrument has proven its worth and we are convinced that it continues to be the best method of achieving the EU's climate protection targets.
In terms of the upcoming reform, it is important for us to achieve rapid political agreement on long-term CO2 reduction targets, which would ultimately lead to a more stringent CO2 reduction path taking us beyond the year 2020. The steeper reduction path can be accompanied by the permanent withdrawal of allowances, if this measure is fully established as part of a political determination to set longterm targets for emission reductions. This connection is of central importance, because stable long-term political framework conditions are essential if European emissions trading is to function successfully. We remain sceptical of short-term, selective measures to intervene in the market, such as back-loading, because these change nothing at a structural level and simply cause greater uncertainty on the market. One-off measures, or action taken by individual countries - whether regarding capacity mechanisms or expansion targets for renewables - are of no use to us; we must find European solutions."