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A successful European Energy Union allows energy to flow freely across borders, keeps energy prices competitively comparable, ensures that Europe is the world leader in renewables, and that every European can pay for energy, Maroš Šefčovič, Vice-President for the Energy Union said in a “conversation with” Friends of Europe on 4 May.

“In order to provide Europeans with secure, competitive and sustainable energy, a deep energy transformation is needed,” he said. The reform should boost the EU’s energy security through diversification; create an integrated common energy market; help to make energy use more efficient; and encourage a sustainable, low-carbon economy.

The event marked the publication of a Friends of Europe report, “Europe’s Energy Union and the road to Paris and beyond.” Based on discussions in a Working Group in 2013 and 2014, the report is published at a crucial time for energy policy.

The UN climate conference is aiming for an ambitious international climate deal in Paris in December. Upheavals to the east and south of the EU have raised alarms over energy security. And concern is growing that European industry is becoming less competitive.

The Working Group’s conclusion is that climate, energy and industrial policies can and must be mutually reinforcing.With better governance and the right policy mix, environmental sustainability, energy security and industrial competitiveness objectives can go hand in hand. But this will remain a distant goal unless today’s policies are not changed.

Šefčovič said that the European Commission had reached similar conclusions, adding that later this year, a robust, transparent governance mechanism will be put in motion and the “State of the Energy Union” report will be presented.

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Maroš Šefčovič

European Commission Vice-President for Interinstitutional Relations and Foresight

Moderated by

Mark Lewis

Managing Director, Head of European Utilities Research at Barclays Investment Bank and member of the Task Force on Climate-related Financial Disclosures (TCFD)

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Photo of Maroš Šefčovič
Maroš Šefčovič

European Commission Vice-President for Interinstitutional Relations and Foresight

Show more information on Maroš Šefčovič

Maroš Šefčovič is a Slovak diplomat and politician, currently serving as a Vice-President in the von der Leyen Commission. He also coordinates the EU Battery Alliance, a cooperative platform seeking to drive the clean energy transition, and was the Vice-President for Energy Union until 2019. Prior to that, he was Commissioner for Education, Training, Culture and Youth. Before joining the European Commission, Šefčovič served as Slovakia’s Permanent Representative to the EU, Director General in the European Affairs Department of Slovakia’s Foreign Ministry and as Slovakia’s Ambassador to Israel.

Photo of Mark Lewis
Mark Lewis

Managing Director, Head of European Utilities Research at Barclays Investment Bank and member of the Task Force on Climate-related Financial Disclosures (TCFD)

Show more information on Mark Lewis

Prior to his current position at Barclays, Mark Lewis was Chief Energy Economist at Kepler Cheuvreux and Managing Director and Global Head of Energy Research at Deutsche Bank, where he worked for 14 years. Lewis has nearly 20 years’ experience as a financial analyst covering energy and environmental markets, and has also worked as an academic at London University. His research on power, gas, and emissions was ranked Number 1 by Energy Risk magazine in its 2011, 2010, 2009 and 2008 surveys. He is currently an active member of the G20 industry-led Task Force on Climate-Related Financial Disclosure (TCFD).

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