The EU wants a radically more ambitious energy policy to meet fresh CO2 emissions targets for 2030.
The European Commission is looking to set a new greenhouse gas target for 2030, saying that emissions should be slashed by 30 percent from their 1990 levels.
It is argued that could provide more certainty for investors.
“We have old infrastructure, we have problems with increasing oil prices, we are very much dependent on imported fossil fuels from outside,” said EU Climate Change Commissioner Connie Hedegaard.
“So, no matter what we do, the future of Europe will be increased energy prices. So the question is ‘Should we do it in the intelligent manner, or in the not so intelligent manner?’”
The EU also wants to raise energy consumption produced from renewable resources to 30 percent and seeks a 30 percent improvement in energy efficiency by 2030.