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EU push for energy shakeup

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EU push for energy shakeup

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Long-awaited proposals from the European Commission on energy reforms are due to be published in Brussels today. The gas and electricity industry is bracing itself for moves to open up the market to more competition, while limiting foreign ownership of EU assets. The proposals are expected to call for energy giants to separate power generation businesses from their distribution networks.

And Russia, for example, which supplies about a quarter of the European Union’s gas, is not expected to have free rein to buy up pipelines and power grids. It is reported the new proposals will call for a ban on foreign firms owning EU transmission systems unless an agreement is reached with Brussels.