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Addressing security of supply: Is the EU heading in the right direction? Christian Egenhofer

Assessing the EU's approach to energy supply security, exploring driving forces, recent developments, and challenges in achieving a unified European strategy. Examining factors like climate change, regulatory capacity, and external policy influences.

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Addressing security of supply: Is the EU heading in the right direction? Christian Egenhofer

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  1. IIEA Series on Security of Energy Supplies Addressing security of supply: Is the EU heading in the right direction? Christian Egenhofer Senior Fellow, Centre for European Policy Studies, Brussels & CEMPLP, University of Dundee Visiting Professor, College of Europe (Bruges & Warsaw) & LUISS University, Rome Institute of International and European Affairs Dublin, 4 December 2009

  2. After 50 years of ignoring, the need for EU energy policy is increasingly accepted … • completion of internal market and EU integration • depletion of indigenous resources • increasing EU external identity (?) • changing geopolitics • emerging economies • climate change policy 2

  3. Evaluating driving forces Completion of internal energy market - Convergence of energy markets - Strengthening of EU’s regulatory capacity - Broadening of regulatory considerations Climate change (more convergence) Growing dependency ? Growing external identity?

  4. Most recent developments Increases competition, regulatory capacity, interconnectors • 3rd liberalisation package 2. EU energy/climate package Minimises national discretion on fuel mix <-- reinforced by market 3. Lisbon Treaty Establishes EU competence 4. SSER (plus TSER…) Gives strategic handle ? Indicates MS readiness to accept EU action (on infrastructure) 5. E Economic Recovery Plan 6. Gas Regulation Sectoral security of supply policy 4

  5. After Lisbon Treaty – member states remain responsible for energy mix … but EU solidarity clauses Addressing what security of supply risks ? Identifying EU added-value Avoiding moral hazard

  6. Issues • Formulating a “European Concept of Security of Supply” (‘E concept of energy policy’): where is EU added-value? Sector by sector • Member states disagree on exact features masking disagreement on the role of markets (economic rents; solidarity and moral hazard, an integrated market would do away with national gas security policy • With market liberalisation (and ”globalisation) government role has changed; are governments responsible for securing energy supply at affordable prices – or should they set a framework to minimise risks?

  7. Issues (2) • The EU role of infrastructure finance • Developing a “European System of Energy Regulators”: scope, statute, role of European Commission

  8. Issues (3) External • External energy policy in search of the added-value or “speaking with one voice” is mantra … but not the issue : speaking with one voice requires agreement/consensus  Energy security is now part of EU foreign policy but does not go beyond the familiar notion of ”Europeanisation” (projecting the EU’s values externally) • Security of supply: security or economic issue? (‘securisation’ – Poland has different view?) What strategy towards Russia ? • What does interdependence mean? • More honesty on role of EU climate change policy on Russia

  9. Conclusions (EU and security of supply) • (General) willingness to act but EU added value required (and not clear) • Examples: i) Gas Regulation; ii) (smart) grid, iii) import pipelines (Nabucco) ??? • Energy efficiency, renewables & nuclear: added value is given but member states’ interest undermine EU-wide solution  market solution may in the need be the best! • Not much EU added value in oil • EU security of supply policy will gradually emerge (through organic, possibly regional integration • EU external role is exaggerated and success depends on consensus

  10. CENTRE FOREUROPEANPOLICYSTUDIES christian.egenhofer@ceps.eu Place du Congrès 1 B-1000 Brussels T: +32 2 229 3911 F: +32 2 219 4151 www.ceps.eu

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