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Brussels (AFP) Feb 4, 2011 European leaders will on Friday endorse far-reaching moves to reduce dependency on Middle East oil and Russian gas, anchored in a significant new role for nuclear power generation. At a summit, shaken by instability over Egypt's popular revolt and the soaring oil price, European Union moves to reclaim control over energy supply for the rest of the century are designed to unlock a trillion euros of private investment.
The EU is the world's largest regional energy market -- 500 million people and 20 million companies.
Governments will commit to a broad sweep of market reforms, linking national and regional electricity grids and gas pipelines by 2014 to allow power to circulate freely and cheaply from those who produce it and have surpluses, to those who don't and need it.
"No EU member state should remain isolated from the European gas and electricity networks after 2015 or see its energy security jeopardised by lack of the appropriate connections," reads summit conclusions ready for endorsement in morning talks. More at link
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