EU energy union would bring lower energy prices, says Elering chief ({{commentsTotal}})

Nissan Leaf electric car Source: Photo: RIA Novost/Scanpix

A EU-wide energy union, which could be set up by 2020 at a cost of one trillion euros, would mean cheaper electricity and gas, says Estonian electric grid operator Elering CEO Taavi Veskimägi.

A common energy market would mean more possibilities for large energy companies and also better prices for consumers.

The idea of the plan is to eliminate so called energy islands, such as the Baltic nations and Finland, which have few energy connections to the rest of the EU.

Veskimägi said the Estlink under water power lines to Finland have cut electricity prices in Estonia. He said Estonia has always rooted for an open energy market.

“This policy is founded on five pillars of supply guarantee, common internal market, energy efficiency, climate policy and innovation,” he said, adding that the key question is how to move from words into actions.

Estonia's greatest task during the next decade is to fully split its electric grid from Russia, Veskimägi said, adding that an agreement with the other Baltic states and Poland must be reached during Latvia's EU Presidency in the fist six months of the current year.

Editor: J.M. Laats

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Independence Day: Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.