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.